Fill the tank. Pay the mortgage. Buy groceries. Pay insurance. Then look at what is left. That is becoming the monthly calculation for millions of American households, particularly in California, where two different affordability problems are colliding. Gasoline has crossed $6 per gallon in parts of Southern California while the average 30 year mortgage rate has climbed above 7 percent. Los Angeles County drivers were paying approximately $6.04 per gallon for regular gasoline in mid September. California diesel prices have…
MarketNational
$6 Gas. 7% Mortgages. How Are People Supposed to Afford This?
Higher gasoline prices and roughly 7% mortgage rates are squeezing the same household budget, forcing buyers to rethink how much home they can afford.
