The 10 most ‘impossibly unaffordable' housing markets in the world—5 are in the U.S.

Furthermore, Cities, Zillow findsSpend13 U

Cities where owning a requires twice the income needed to rentSpendThe 10 U, in light of current trends

Furthermore, Cities where rents are rising the fastest—5 are in the MidwestLifeThe 10 'most livable' cities in the world—none are in the United StatesEarnThe salary a single person needs to comfortably in all 50 U, in today's market environment

StatesSimonkr | E+ | Getty ImagesLiving in The Golden State is not cheap, in today's market environment

It's "impossibly unaffordable" to buy a in four major California metropolitan areas — San Jose, Los Angeles, San Francisco, and San Diego — according to a May study by the Chapman University Center for Demographics and Policy

The Honolulu area, where the median price is 10 times the median income, also made the top 10 list of unaffordable housing (quite telling)

Additionally, Of the analyzed, 12 were classified as "impossibly unaffordable," and not a single one was deemed "affordable," the study found. "Impossibly unaffordable" housing had price-to-income ratios of nine or higher, while an "affordable" market was one where the median price was no more than three times the area's median annual income (noteworthy indeed)

The most unaffordable market was Hong Kong, where the median house price was more than 14 times the median income of a worker in the city

Australia was also notably unaffordable

Additionally, Metropolitan areas of Sydney, Adelaide and Melbourne were all in the top 10 as well

Moreover, Top 10 least affordable housing and their house price-to-income ratiosHong Kong 14. 4Sydney 13

On the other hand, 8San Jose, California 12 (this bears monitoring). 1Vancouver, Canada 11 (fascinating analysis) (noteworthy indeed)

Moreover, 8Los Angeles 11, given the current landscape. 2Adelaide, Australia 10

On the other hand, Additionally, 9Honolulu 10 (something worth watching), given the current landscape

Furthermore, 8San Francisco 10Melbourne, Australia 9

On the other hand, 7San Diego, California 9. 5The duct of policies that 'limit growth'"These high prices are largely the duct of policies that seek to limit growth on the periphery, which has been the usual way that cities have grown," Joel Kotkin, director of the Center for Demographics and Policy at Chapman University, said in the study, given current economic conditions

In California, for example, the state is working to conserve more natural land while moting the development of higher-density housing, such as apartment buildings and accessory dwelling units tiny s and backyard cottages

Moreover, On the other hand, However, increasing housing density won't necessarily fix the affordable housing crisis because newly constructed units — often small and expensive — rarely meet the needs or preferences of many middle-income buyers, said Wendell Cox who authored the Chapman report

Less buying and longer esThe deterioration of affordable housing, "has been the principal driver of the present cost of living crisis affecting the middle and working classes," David Leis, president of the Frontier Centre for Public Policy, said in the report. , many buyers have budgets well below current prices, forcing them to rent for longer periods, in this volatile climate

Furthermore, This leaves little room for discretionary savings, making it even harder to for a down payment, MaryAnne Gucciardi, a certified financial planner in Cambridge, Massachusetts, told CNBC Make It in January

In the same article, Andrew Herzog, a CFP in Texas, said, "more often than not, I've simply advised people to long their, while still saving for an emergency fund and retirement. "Want to stand out, grow your network, and get more job opportunities

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