Perhaps unsurprisingly, the most expensive US cities to buy home are in California, where San Jose, Los Angeles, San Francisco and San Diego have all made the top 10.
— Anyone with half an eye on the housing market over the last two decades will know that in many countries, not least the United States, it’s become much more difficult to buy a home.
US cities on the West Coast and Hawaii occupied five of the top 10 most unaffordable places, according to the annual Demographic International Housing Affordability report, which has been tracking house prices for 20 years. But topping the global leaderboard is Hong Kong, the compact Asian financial hub known for its tiny apartments and sky-high rents. Notably, it’s the only Chinese market covered in the report.
House prices slipped during the pandemic in 2020, when the government closed the city’s borders and imposed a zero-Covid policy — that’s on top of new national security laws that have had a chilling effect on the city. “The middle-class is under siege principally due to the escalation of land costs. As land has been rationed in an effort to curb urban sprawl, the excess of demand over supply has driven prices up,” the report said.One solution, the report’s author wrote, is to look to New Zealand.
San Diego Cost Of Living San Diego Unaffordable Unaffordable Cities World Unaffordable Cities
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