February 24, 2017

Congrats everyone! San Francisco and San Jose are more expensive than New York!

The 10 most expensive cities to live in

Using the “mean multiple” approach — the median house price divided by the median household income — the data shows that the most “severely unaffordable major housing markets” are in Australia, New Zealand, China, Canada, the UK, and the US.

High house prices are not a sign of city’s success but a sign of failure to deliver the housing that its citizens need.”

10. Bournemouth & Dorset, UK
9. San Francisco
8. Los Angeles
7. Honolulu
6. Melbourne, Australia
5. San Jose, US
4. Auckland, New Zealand
3. Vancouver, British Columbia
2. Sydney
1. Hong Kong, China

And this, my friends, is what we call fake news. High house prices are most definitely a sign of a city’s success – and the Real Bay Area is truly successful. Where’s our arch nemesis New York in this list? Banished! Where’s London? Missing!

Congrats everyone. Great work so far, but the job’s not done. Let’s keep our eyes on the prize and aim to take on those final four spots so we can be at #1 in the world!

What are you doing to help us become the #1 world’s most expensive real estate market?

Comments (6) -- Posted by: burbed @ 6:21 am

6 Responses to “Congrats everyone! San Francisco and San Jose are more expensive than New York!”

  1. required Says:

    back from hiatus?

  2. michael Says:

    The only way to tolerate Housing Bubble 2 (or the continuation of 1) is to check out of reality.

  3. Squanto Says:

    What’s so great about Bournemouth & Dorset?

  4. calixto Says:

    As I look around me at the stunningly high prices and the now silent bubblesphere, I sometimes stop and wonder how did we get here? In 2008 the world was ours, all we had to do was sit back wait keep our powder dry and wait for the prime moment to buy.

    We were like cattle on these websites as prices came down, staring them in the eye. Now they’re back up to bubble highs as no one here made a move. Our chance is gone. Atherton, MP, PA, its just not going down.

    I admit defeat. We should have bought 2009 or 2010. But instead we listened to the masses telling us about hidden bank inventories and the upcoming price crushing Tsunami. What a bunch of BS. Those banks were not sitting on many homes. Not on the peninsula. The financial mess was in other non desirable states and cities. Like Detroit. Around here no way.

    We had the opportunity of a lifetime in 09-10 and we took a dump on it. We used to mock the concept of being priced out forever. Now, we live it.

  5. Real Estater Says:

    I bought. Now I live it!

  6. Alex Says:

    Damn. I thought this site died a slow miserable death as this bubble kept expanding, continually fueled by ill-gotten foreign money and central bank excesses.

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