Thursday, September 01, 2005

Home sales riding wave of debt

Home sales riding wave of debt: "Of the 19 metropolitan areas in the United States with the greatest rise in the cost of buying a home since 2000, 18 were in California -- no surprise to anyone in Los Angeles. But here's a shocker: Despite this remarkable run-up in prices to unprecedented levels, homeownership rates in the state are also at their highest level in at least 45 years. What's more, an impressively large number of young California adults are still managing to buy
homes. "
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