By Tony Bizjak and Michael Finch II | The Sacramento Bee
Recent Sacramento homebuyers are among the most financially stretched in the country, having squeezed into the market in the late stages of a seven-year housing boom.
Area buyers took out mortgages in 2017 that were on average 3.2 times larger than their annual income, according to a study by Lending Tree, an online loan marketplace. The national average is 2.56.
That ranks Sacramento 10th nationally among the country’s 50 largest metro areas.
Six California cities are in the national top 10, a sign that Golden State residents are stretching more to buy a home than those living elsewhere.
