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The Center for Demography and Policy at Chapman University and the Frontier Center for Public Policy presented the 2024 report regarding global housing affordability and, according to its conclusions, High real estate prices, compared to incomes, are leaving young people, minorities and immigrants without opportunities.
The study included an evaluation in eight countries: Australia, Canada, China, Ireland, New Zealand, Singapore, United Kingdom and United States.
According to the analysis, of all the countries indicated, in the United States you can find the most affordable cities among which Oklahoma is at number eight on the listthe closest option being California.
In the study, those cities that obtained a score of nine are considered practically inaccessible for most people. Oklahoma, received a score of 3.6, so It is an alternative for those with lower incomes.
But also In the United States, other destinations that are considered more accessible stood out For home buyers, these include:
- Pittsburgh, Pennsylvania
- Rochester, New York
- St. Louis, Missouri
- Cleveland, Ohio}
- Buffalo, New York
- Detroit, Michigan
- Cincinnati, Ohio
- Louisville Kentucky
In fact, Pittsburgh is the most affordable city in the world, It obtained first place among the 94 areas analyzed because the average price of housing provides the opportunity for a greater number of people to own a property, considering the average family income.
The researchers discovered that In Pittsburgh home prices have remained stable in recent years which, combined with solid incomes, have made it possible for a greater number of people to purchase a home that has an average cost of US$235,000.
Oklahoma is the most accessible and closest city to California.
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The most expensive cities in the United States to live in
In fact, The average price of a home in the United States reached an all-time high reaching US$394,000, which is 4.4 percent more than a year ago.
Although according to the report’s conclusions, Hong Kong, in China, and Sydney, in Australia would be the least affordable cities for home buyers, the study also several from the United States stood out, the majority in the state of California, between them:
- San Jose, California
- Los Angeles California
- Honolulu, Hawaii
- San francisco California
- San Diego, California
In this regard, Joel Kotkin, director of the Center for Demography and Policy at Chapman University, commented: “As with any problem, the first step toward resolution is understanding the basic facts. Now comes the difficult part, convincing policymakers to to change course before the new generation loses all hope of owning a home.
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