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Nevada Co Ranks Low In Housing Affordability

Housing affordability continues to drop in Nevada County. Second-quarter numbers from the California Association of Realtors show that only 32-percent of local residents can afford a home, the 19th-lowest rate among the 58 counties. County Association of Realtors President, Teresa Dietrich, says they’d like to collaborate more effectively with contractors and the building department to reduce regulations. She’d also like to see fees at least be re-structured, if not reduced…

click to listen to Teresa Dietrich

The minimum-qualifying income for a home in Nevada County is now about 92-thousand dollars a year. Dietrich says there are too many jobs here that don’t pay that amount…

click to listen to Teresa Dietrich

Dietrich says if the housing stock ever increased significantly, including overcoming protests from neighbors and environmentalists, more high-paying construction jobs would also be created. Statewide, affordability has hit a 10-year low, with three out of four residents priced out of the market.

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