BREAKING NEWS – Sacramento, California – A new study examining household incomes and comparing them with median new home construction mortgages found the California capital the most expensive city to buy a home, according to the study from the real estate-technology firm, Knock.
The median new construction home price in the Sacramento region is $650,000, which means residents need an income of about $128,000 to afford an average down payment of $39,000. The median household income in the area is $76,706, according to the report.
Governor Newsom commented on the study in a leaked email. “I want the cost of the homes to continue to rise,” he began. “This is the best way to keep homeless people, illegal immigrants and all other minorities, plus run-of-the mill bums, out of my beautiful city. If you can’t run’em out, price’em out. This has always been my secret policy regarding social irritants.”