This chart from real estate firm Point2Homes ranks cities by their “median multiple” — the median home price divided by median household income. Take Vancouver, which tops the unaffordability list and has a median home sale price 17.3 times higher than the median household income:
A median multiple of greater than 5.1 is rated as “severely unaffordable,” which a disturbing number of major metropolitan areas qualify as, for reasons ranging from the huge influx of foreign investment in Vancouver to San Francisco’s severe housing shortage.
SD is a bargain, who wants to live in Vancouver…look at the list..Brooklyn or San Diego..no contest here..SF, nice but much more expensive, LA-nice but too many people for my tastes.
Ten years from now, everybody is gonna be “crying” about how cheap it was to get into the NCC area…yes pockets of unaffordability are growing…
let’s face it , the world is becoming aware of how great this city is….
I have an idea for a tv show. It’s about a rich family that can’t make ends meet in California, lose their house, and move to a teeny home in the hills of Tennessee.
I’d call it “the beverly hillbillies.”