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L.A. homes out of reach for middle class

September 3, 2008 8:45:10 AM PDT
Most houses in Los Angeles are out of reach of middle class families.According to a study by the L.A. Business Council, middle class families can only afford about 11 percent of homes in the area.

If a family earns $53,000 a year, they'd have to put half of that toward house payments to live in a median priced home, forcing many families to move farther away from solid job prospects.

The council said very little affordable housing near jobs and the difficulty of public transportation make it hard for businesses to recruit employees.

 

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