California housing crisis impacts first-time buyers

Most Californians are now waiting until their late 40s to purchase their first home, roughly a decade later than the national average, due to rising costs and lower homeownership rates. The state's homeownership rate is 56%, lower than the national rate of 66%, with White and Asian residents owning homes earlier than Black and Latino residents. Voters will consider a proposition this fall to improve access to homeownership through easing down payments and expanding housing supply.

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