230: World’s Most Affordable Housing Markets

Be Wealthy Podcast CoverLearn the world’s most affordable housing markets (8 out of 10 are in the US).

Source: 13th Annual Demographia International Housing Affordability Survey

Looked at “affordability in 92 major housing markets in nine countries found 11 affordable areas – all in the US.”

“The survey used Q3 2016 data to gauge the ’median multiple’, the ratio of median home price to median pretax income.”

Ratio of median home price to median pretax income, with 3.0 or below being “affordable.” For example, if median pretax income is $100,000, you can afford a $300,000 home pretty easily so it’s deemed “affordable”.

According to CNN, the world’s most affordable housing markets are:

1. Racine, Wisconsin, US
2. Bay City, Michigan, US
3. Decatur, Illinois, US
4. Elmira, New York , US
5. East Stroudsburg, Pennsylvania, US
6. Karratha, Australia
7. Lima, Ohio, US
8. Moncton, Canada
9. Peoria, Illinois, US
10. Rockford, Illinois, US

(Source: 13th Annual Demographia International Housing Affordability Survey)

It’s interesting to note that housing inventories are at 17 year lows, indicating a possible peak of a bubble?

Listen to podcast 228 for the most affordable housing markets in the U.S.

On my website www.lindapjones.com, I will post a link to the entire report. It’s quite interesting and I think it’s worth your time if you’re interested in real estate. Go to www.lindapjones.com/worldsmostaffordablehousingmarkets

Here is the link to the full housing report:

http://www.demographia.com/dhi.pdf

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