Home ownership out of reach for a third of Georgia families

ATLANTA - A University of Georgia study indicates that housing prices that are rising faster than wages, and poor credit, are keeping about one million Georgia families from buying their own homes. <br> <br> The study was completed last year and released this week. It looked at the availability of what the authors call ``workforce housing&#39;&#39; -- or housing that would be available for families earning as little as minimum wage. <br> <br> While home ownership rates in Georgia are higher, at 71 percent, than in the country as a whole (66 percent), the study found that many families who want to own a home can&#39;t manage it. <br> <br> The study showed that about a third of Georgia households had a combined annual income of less than $30,000 in 2000. Experts say families at that income level should aim to pay no more than $75,000 for a home, but that&#39;s only about half of the average sale price of a new home in Georgia.

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