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increased their share of the County's low-priced units to 60%. However, by 1970 the standard for low-pri~ed dwelling units had shifted from $10,000 to $20,000; virtually no new dwelling units under $10,000 were built between 1960 and 1970. The upward shift in the standards from 1960 to 1970 is due to two factors; an overall up- ward shift of the distribution and an increase in the Home Ownership Component of the Consumer. Price Index for the Los Angeles - Orange County area. While there has been a shift in the distribution of the lower valued homes, there have also been changes in the expensive and middle valued units. These ranges were $20,000 and over and $10,000 - $20,000 respectively in 1960. Due to the shift in the price distribution the 1970 standards were moved to $35,000 plus and $20,000 - $35,000 respectively. As of 1974 the cities of Laguna Beach, Newport Beach, Seal Beach, Villa Park, Irvine and the unincorporated area of Tustin-Foothills held a disproportionately large share of the most expensive homes with regard to their percentage share of the County's total housing stock. While this pattern was evident in 1970, the 1974 data show that there was a strong shift to these areas from 1960-1974 with regard to the construc- tion of expensive'units. While this movement was underway, the five cities of Anaheim, Buena Park, FullertSn, Garden Grove and Santa Aha underwent a considerable downward shift from 1960 to 1974 in their proportion of the County's highest- valued units. This decline from 37% to approximately 17% had the effect of widening the gap between their housing composition and that of neighboring cities and areas with high proportions of expensive dwellings, The average selling price of a completed or under con- struction single family detached home in Orange County during the second quarter of 1974 Was approximately $55,000. Nearly 94% of all single family detached homes completed or under construction during the second quarter of 1974. had a selling price in excess of $40,000. Average selling price of a completed or under construc- tion PUD residential unit during the second quarter of 1974 was approximately $39,300. ABILITY TO,AFFORD HOMEO~NERSHIP Besides prices, factors important in deter- mining the affordability of housing in- clude interest rates, terms, and accept- 000015