In California, the housing market appears stable, but the income needed to afford a typical home is well over $200,000 a year. Most households make less than half that. Only 18 percent of Californians can afford to purchase a median-priced home. In this episode, economist Oscar Wei explains how interest rates, limited supply, and long-standing policy choices are keeping buyers on the sidelines.

Views expressed in this video are the opinions of the host and guests and do not necessarily reflect the views of The Epoch Times.