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Source: Wells Fargo and the National Association of Home Builders
Los Angeles, Calif. Key stat: Only 3.7% of homes sold in L.A. during the third quarter were affordable to families earning the median income for the area ($61,700). According the index by Wells Fargo and the National Association of Home Builders, that's an improvement over a year ago, when less than 2% of houses were affordable. Even worse is Napa, Calif., wine country, USA. Only 3.3% of the homes sold there in the third quarter could be afforded by residents earning the median household income ($75,800) for the area. Last updated December 28 2007: 2:29 PM ET
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