September 13, 2007

Half of San Diego County households live in unaffordable housing

A new CPI issue brief reveals that about 53% of both renters and homebuyers in this county can't afford their housing, according to federal standards. 

CPI's analysis of US Census Bureau data released this week showed that housing affordability in the county in 2006 remained 8 percentage points behind 2000 level.

Affordability worsened for local homeowners with mortgages in 2006, and improved only slightly for renters. The apparent improvement for renters is a largely "an illusion," said Richard Lawrence, cochair of the county’s Affordable Housing Coalition, because rents have increased and more people with higher incomes are renting.

The U.S. Department of Housing and Urban Development (HUD) considers housing unaffordable if the total monthly payout is more than 30% of a household’s income.  A total of 500,130 households in the county lived in unaffordable housing in 2006.

Mortgage loan crisis hits Latinos and Blacks in the county hardest

The infamous subprime mortgages that carry high interest rates and frequently end in foreclosure have disproportionately affected Latino and African-American residents of San Diego County.

A new report from ACORN shows that a much higher percentage of Latino and black homebuyers than white homebuyers received the high-cost loans in 2006. The racial disparity was true regardless of income level.

The entire report, and reviews of the situation nationally and in other cities, are available at the ACORN website.

Job openings at CPI

 Would you like to work for CPI? You can be part of making important change for working people in the San Diego region! Details are available on our website about organizing and research positions available. This is the chance to put your work where your heart is!