FRESNO, Calif. (KMJ) — Republican State Assemblyman Jim Patterson of Fresno, has introduced a bill that aims to make it easier for young families in the Golden State, to purchase a home.
If approved, Patterson says his legislation would allow first-time buyers to “deduct closing costs, somewhere in the neighborhood of 2 to 3 percent of the final loan amount.”
Recent studies have shown that Millennials, on average, earn 20 percent less than their parents and grandparents.
That, combined with rising home costs, have led to many young families having to rent, instead of buying.
The average cost of a home in California is $459,000, which is more than double the national average.
Aaron Abeytia anchors afternoon newscasts on News/Talk 580 & 105.9 KMJ. Read More…
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