Reported 8 months ago
FTNN News Network reported on June 16, 2024, that buying a house has always been a goal for many, but in today's real estate market, purchasing a home in several cities has become a luxury. The latest 'Demographic International Housing Affordability' report lists the top 10 hardest cities to buy a house, with Hong Kong ranking first, followed by five cities on the U.S. West Coast and Hawaii. The report compares average income to average house prices and measures housing affordability based on the ratio of median house prices to median household income. Hong Kong, due to its dense population, small apartments, sky-high rents, and low homeownership rate of 51%, topped the list. Los Angeles, San Francisco, and Honolulu are among the expensive U.S. cities listed, along with Sydney, Melbourne, and Adelaide in Australia.
Source: YAHOO