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Los Angeles, Long Beach, San Diego and San Jose rank among the top five least affordable cities in the world for homebuyers. That is according to the results of a survey from financial services provider Remitly, conducted late last year. It compared the price of a regular home to regular local salaries. In L.A., a single buyer earning the average salary can afford just 28 percent of the purchase price of a typical home. The report says the four cities are less affordable for homebuyers than New York City, Paris and Singapore. San Francisco also made the list, at tenth least affordable. So did Oakland, at 19th least affordable. Another recent report, from the state Legislative Analyst’s Office, says homes in California are about twice as expensive as the typical mid-tier U.S. home.
