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The High Cost of Living
By Tom Molloy, The Associated Press
Published: August 31, 2005 05:27
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Excerpt: {magazine_leadin}LOS ANGELES—Californians have the nation’s highest home values but are stretching further than people in most other parts of the country to meet their high mortgage payments, according to newly released Census data. The numbers reveal a trend that isn’t surprising, said Dowell Myers, a USC professor of urban planning and policy: Californians are willing to sacrifice for what they perceive to be a good investment, and so far soaring home prices are helping them gain equity in those investments.…
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