While some of our international neighbors clearly disagree with us on a few things, there appears to be one area that we’re all in agreement on – U.S. housing markets are the most affordable in the world.
The aforementioned statement is based on a recent study of more than 300 metro housing markets in nine countries as conducted by the research group Demographia.
Researchers measured affordability by taking a look at median home prices and median household incomes.
A market was rated “unaffordable” if it had a calculated value of higher than 3.0 and was “severely unaffordable” if above 5.1. The U.S. averaged 3.4 as a whole, making it more affordable than other countries.
Can you guess which city was labeled the world’s priciest? Well, you may have guessed that it was Hong Kong. Consider this – to live on Hong Kong Island alone, a resident would pay about $900 for just a 150-suqare-foot apartment. Wow!
Of course, we’re always at the ready to help you find the most affordable deal. Let’s connect real soon!!
Founded in 2009 during one of the slowest real estate markets in the past half century, First International Title has grown from a handful of offices to over 30 offices throughout the state, from Key West to Pensacola, including its company headquarters in Coral Springs. We provide closing services in English, Spanish, German and French. With a combined 1,000 years of experience, our staff has extensive experience closing residential, refinance, reverse mortgage, short sale, REO, deed-in-lieu and commercial transactions. We do not outsource or offshore any portion of our core title services. We employ our own searchers and examiners to ensure quick turn times and accuracy. At First International Title, we put our customers first.
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