Average Price Of New Home In California Hits $1 Quadrillion

SACRAMENTO, CA — Californians struggling to afford the cost of living in the state were hit hard once again, as it was revealed that the average price of a new home in California had now hit $1 quadrillion.

Housing costs in the state have long been higher than the national average, but a recent study by the California's Legislative Analyst's Office revealed that the problem was far worse than many realized. The study found that the average price of a new 2-bedroom, 1-bath home is $1 quadrillion, which is quite high.

It seems that the market has never been worse for those looking to buy an average new house in the State of California, according to consumer advocates and home loan experts.

"We always recommend that homebuyers find a home that is no more than 3-5 times their yearly income," said Stanley Meeks, a home loan officer for Wells Fargo Bank. "The average household income in California is about $100,000 per year, so that means the ratio to buy a $1 quadrillion home is now at 10 billion to one."

"Don't forget," Mr. Meeks added, "that you also want to aim for a down payment of about 10-20%, so that means that the average home buyer in California should be trying to save up roughly 200 trillion dollars before looking to buy something."

Sacramento politicians were quick to point out that potential homebuyers have options, though, such as finding a nice cardboard box on a sidewalk, if you need to be in the city, or that families can seek to find a home somewhere in the Mojave Desert, which is priced lower since it is the Mojave Desert.

At publishing time, real estate agents in the state had recommended that potential homebuyers use the Dave Ramsey envelope system to help their families save up the $200 trillion they now need for a down payment.

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