WASHINGTON: An annual study suggested that the most expensive housing market in the world is in Hongkong.
Hong Kong has led the listsince it was first introduced onto theDemographia International Housing Affordability Surveyseven years ago.
The survey assesses the median housing prices and median incomes to ascertain median multiples, which it uses to determine the rankings.
Least Affordable Housing Markets
1. Hong Kong, China
2. Sydney, Australia
2. Vancouver, Canada
4. Auckland, New Zealand
5. San Jose, Calif.
6. Melbourne, Australia
7. Honolulu, Hawaii
8. Los Angeles, Calif.
9. San Francisco, Calif.
10. Bournemouth & Dorset, U.K.
Most Affordable Housing Markets
1. Racine, Wis.
2. Bay City, Mich.
3. Decatur, Ill.
4. Elmira, N.Y.
5. East Stroudsburg, Penn.
6. Karratha, Australia
7. Lima, Ohio
8. Moncton, Canada
9. Peoria, Ill.
10. Rockford, Ill.