Spiraling real estate prices pushed the median-priced...

Spiraling real estate prices pushed the median-priced home out of reach of 71% of Californian families in April, the California Assn. of Realtors said. The median price in the state was $157,033 in April, meaning a family would need annual income of $48,709 to qualify for a standard 30-year mortgage. That puts the Realtors’ “affordability index” at 29%, meaning just 29% of California families meet the income requirement. The situation was worst in the San Francisco Bay Area, where just 15% of families qualified; the affordability index stood at 22% in Los Angeles, 29% in Orange County, 29% in San Diego and 46% in the Riverside-San Bernardino area.