California homebuyer’s goal: Save $18,200 annually for 5 years

Want to enter the world of California homeownership? Become a voracious saver.
My trusty spreadsheet had some fun with a curious study by Consumer Affairs that looked into a major challenge for first-time homebuyers: the down payment.
The report pondered how long it would take to save 10% of the median purchase price, a common goal for first-timers, assuming the wannabe owner saved 10% of income left over after paying taxes and life’s “essentials,” using the median household in