LAND POOR
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In 1950, an aspiring homeowner making less than $2 an hour, with a wife and two kids, could afford the average Southern California home and still be financially comfortable. Today, to buy that same house the aspiring owner would have to make almost $35 an hour to make expenses comfortably.
With the job market getting worse and people leaving California in masses, the jobs that paid that $35 an hour are getting scarcer. Today, if you’re lucky enough to find a job, it generally pays about $8 or $9 an hour. The people of Southern California should take off the rose-colored glasses. The days of big money in real estate are over.
RONALD T. LUND
Covina
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