Toronto and Vancouver are among the top five most unaffordable housing markets across 92 metropolitan areas in eight countries, a new report says. The report (pdf), released on Monday by think tanks Urban Reform Institute and Frontier Center for Public Policy, seeks to rate the affordability of houses using the median multiple, a “measurement of income in relation to housing prices, or 92 major markets (metropolitan areas) in eight nations for the third quarter of 2020.” The higher the rating score, the more unaffordable it is. Hong Kong tops the chart as the least affordable housing market with a rating of 20.7. Vancouver was second with a score of 13.0, worsening by 1.1 compared to last year, according to a report (pdf). Sydney takes the third position with a 11.8 rating, followed by Auckland at 10.0, and Toronto closely behind at 9.9. Similar to Vancouver, Toronto’s unaffordable rating increase by 1.3 …
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