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Why The Eurozone Crisis Is Not Over

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Why The Eurozone Crisis Is Not Over

Why The Eurozone Crisis Is Not Over

It’s been six years, and we are still seeing the repercussions from the European Debt Crisis. There was a period of relative stability, but its possible the worst is yet to come.

Just hours ago, it was reported that the Greeks were preparing for a potential default if credit talks fail. It was then denied shortly after. So what’s the latest on the Eurozone? Today’s infographic tackles some of the most recent statistics out of Europe.

The Eurozone unemployment rate is currently 11.2%, which is much higher than those of the United States (5.7%) or Japan (3.6%). The unemployment of youth is one of the most dogging statistics with youth in Spain (50.9%), Greece (50.6%), Croatia (44.1%), and Italy (41.2%) lacking jobs. Those that are employed are having slow wage growth with compensation per employee increasing only 0.35% from Q2 to Q3 of 2014.

There are also challenges with migration and demographics. In 2013, net immigration to Germany totaled 437,000 people, which is the most since 1993. One study found that more than 120,000 Greek professionals (doctors, engineers, scientists) moved away from Greece since 2010. Apart from people moving around, they are also aging as a population. By 2030, the number of working age people will decrease by 7 million while the number of people reaching retirement age will increase by 5 million.

Original graphic from: Boston University

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Mapped: The World’s Least Affordable Housing Markets in 2024

See which housing markets are considered ‘impossibly unaffordable’ according to their median price-to-income ratio.

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The World’s Least Affordable Housing Markets in 2024

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Many cities around the world have become very expensive to buy a home in, but which ones are the absolute most unattainable?

In this graphic, we highlight a number of housing markets that are deemed to be “impossibly unaffordable” in 2024, ranked by their median price-to-income ratio.

This data comes from the Demographia International Housing Affordability Report, which is produced by the Chapman University Center for Demographics and Policy.

Data and Key Takeaway

The median price-to-income ratio compares median house price to median household income within each market. A higher ratio (higher prices relative to incomes) means a city is less affordable.

See the following table for all of the data we used to create this graphic. Note that this analysis covers 94 markets across eight countries: Australia, Canada, China, Ireland, New Zealand, Singapore, the United Kingdom, and the United States.

RankMetropolitan MarketCountryMedian price-to-income
ratio
1Hong Kong (SAR)🇨🇳 China16.7
2Sydney🇦🇺 Australia13.8
3Vancouver🇨🇦 Canada12.3
4San Jose🇺🇸 U.S.11.9
5Los Angeles🇺🇸 U.S.10.9
6Honolulu🇺🇸 U.S.10.5
7Melbourne🇦🇺 Australia9.8
8San Francisco🇺🇸 U.S.9.7
9Adelaide🇦🇺 Australia9.7
10San Diego🇺🇸 U.S.9.5
11Toronto🇨🇦 Canada9.3
12Auckland🇳🇿 New Zealand8.2

According to the Demographia report, cities with a median price-to-income ratio of over 9.0 are considered “impossibly unaffordable”.

We can see that the top city in this ranking, Hong Kong, has a ratio of 16.7. This means that the median price of a home is 16.7 times greater than the median income.

Which Cities are More Affordable?

On the flipside, here are the top 12 most affordable cities that were analyzed in the Demographia report.

RankMetropolitan MarketCountryMedian price-to-income
ratio
1Pittsburgh🇺🇸 U.S.3.1
2Rochester🇺🇸 U.S.3.4
2St. Louis🇺🇸 U.S.3.4
4Cleveland🇺🇸 U.S.3.5
5Edmonton🇨🇦 Canada3.6
5Buffalo🇺🇸 U.S.3.6
5Detroit🇺🇸 U.S.3.6
5Oklahoma City🇺🇸 U.S.3.6
9Cincinnati🇺🇸 U.S.3.7
9Louisville🇺🇸 U.S.3.7
11Singapore🇸🇬 Singapore3.8
12Blackpool & Lancashire🇬🇧 U.K.3.9

Cities with a median price-to-income ratio of less than 3.0 are considered “affordable”, while those between 3.1 and 4.0 are considered “moderately unaffordable”.

See More Real Estate Content From Visual Capitalist

If you enjoyed this post, be sure to check out Ranked: The Most Valuable Housing Markets in America.

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