Quote:
Originally Posted by MonkeyRonin
According to this Demographia report measuring housing prices relative to local incomes in urban areas across Australia, Canada, Hong Kong, Ireland, New Zealand, Singapore, UK, and the US (random assortment but ok); Hong Kong is far and away the most expensive city. In the US, it's actually Los Angeles.
http://www.demographia.com/dhi.pdf
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Definitely wouldn't have expected it to be L.A.
It's not surprising, but important to note, how strong the correlation is between population decline and loose land use regulation. Chicago could probably be back above 3M in no time with tighter regional land use policies.