Angelenos’ dream of buying a home crushed as new report reveals unfathomable numbers

Source: New York Post

A new report shows just how hard it is for those in Los Angeles to buy a home, where mortgage rates are twice as expensive as renting. The median monthly mortgage in LA came in at $6,240 a month compared to the median monthly rent cost of $2,819, according to the latest report from Construction Coverage. “Since the start of 2021, mortgage rates have more than doubled and home prices remain approximately 33% higher, driving a surge in the ‘buying premium’ across most U.