Reported about 1 year ago
A new report has categorized some major cities, like those on the West Coast and Hawaii in the US, as 'impossibly unaffordable' due to soaring house prices driven by pandemic demand, limited land use policies, and investor activity. Cities in California and Hawaii dominate the list, along with Australian cities like Sydney and Melbourne. Hong Kong takes the top spot globally, known for its high rents and tiny apartments. The report suggests looking at New Zealand's approach of freeing up land for development as a possible solution to housing affordability issues.
Source: YAHOO