The 13th Annual Demographia International Housing Affordability Survey was recently released, and its purpose was to report on the current severely unaffordable major housing markets of the world are. The report analyzed 406 metropolitan housing markets in nine countries: Australia, Canada, China (Hong Kong), Ireland, Japan, New Zealand, Singapore, United Kingdom and the United States, using mean multiple method–that is, the median house price divided by the median household income. According to the survey, these are the world’s most expensive cities to live in, from 10 to 1, from lowest to highest. London and Paris, surprising, did not make the list…
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