Most major cities that were unaffordable in 2022 became even more unaffordable in 2023, according to Wendell Cox‘s latest annual report on international housing affordability. The major exception is in New Zealand, where land-use reforms have led to a home construction boom and increased housing affordability.
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He has been doing these reports since 2005 so this may be his 20th report (though he may have missed 2021). This year’s report, which is based on data from the third quarter of 2023, examines affordability in 94 housing markets in eight English-speaking countries: Australia, Canada, China (Hong Kong only), Ireland, Singapore, the United Kingdom, and the United States. Of these 94 markets, the least affordable are Hong Kong, Sydney, and Vancouver while the most affordable are Pittsburgh, Rochester, and St. Louis. Continue reading
