Hong Kong Tops List of World's Least Affordable Cities for 14th Year

New report identifies the most expensive housing markets, with five U.S. cities making the top ten.

Hong Kong remains the least affordable city, requiring 16.7 years of median income to buy a home.
California cities dominate the U.S. list, with San Jose, Los Angeles, San Francisco, and San Diego in the top ten.
Stringent zoning and urban containment policies contribute to high housing costs.
Remote work during the pandemic increased demand for suburban housing, driving prices up.
Pittsburgh is noted as the most affordable U.S. city, with a median price-to-income ratio of 3.1.