The Least Affordable Metro Areas in the World Will Make You Feel Broke

Credit: Buzz60
Published on April 10, 2019 - Duration: 01:05s

The Least Affordable Metro Areas in the World Will Make You Feel Broke

You’re going to need to bust open that piggy bank if you want to live in one of these pricey metro areas.

Buzz60's Sean Dowling has more.

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The Least Affordable Metro Areas in the World Will Make You Feel Broke

You’re going to need to bust open that piggy bank if you want to live in one of these pricey metro areas.????These are some of the least affordable metro areas in the world.????Take it from a new report from the Miami Future Urban Initiative at Florida International University.????Housing prices are as high as some of the skyscrapers in Hong Kong, which was ranked least affordable.????Hong Kong is followed by Sydney, Australia, Los Angeles, London, Toronto, New York and then the Miami Metro area.????The researchers say the new report shows Miami’s housing unaffordability crisis reinforces the high levels of inequality.????And for a lot of folks in Greater Miami, housing is just too expensive for what they’re making at work.????The numbers don’t lie.????The report also shows 6 out of 10 working adults in Miami are forking over more than 30% of their income on housing.????That makes Miami the winner of a title it shouldn’t brag about; the highest rate of any large metro area in the country, according to the Associated Press.????Researchers say the fix is to build more affordable housing units.????No wonder it’s called the Magic City.????The high housing prices will make residents do a disappearing act!

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