A Short Story About Why You Cannot Buy A House

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Home ownership is now unattainable in every major city worldwide. For the first time, none of the 95 cities tracked by Demographia are considered affordable. In cities such as Hong Kong (14.4 times income), Sydney (13.8 times), Vancouver, London, and San Francisco, housing prices range from 9 to 30 times the average household income. Essential workers, including teachers and nurses, as well as young families, are being priced out of the cities they support. This raises critical questions about how housing became a leading investment asset, whether prices will continue to rise, and what measures are needed to address the global housing crisis.

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0:00 – Intro
1:21 – How Did We Get Into This Mess?
6:15 – Can Prices Really Get Any Worse?
10:18 – What Would It Actually Take to Fix It?
11:55 – Ending / Wrap-Up

The Economic Explained team uses Statista for conducting our research. Check out their YouTube channel: https://www.youtube.com/channel/UCuj2Bne141HGmYFsbkfnbqw