One of California’s many socioeconomic divisions is homeownership.
California has the nation’s second-lowest percentage of residents living in homes that they or their families own — 55.5%, one percentage point higher than New York. But those owners are sitting on immense equity, roughly $2 trillion , thanks to the state’s highest-in-the-nation home prices.
Last month, the median price of single-family home in California was $868,150, according to the California Association of Realtors, more than twice the national median…