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Liz Weston: Start early to get your house retirement-ready
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Liz Weston: Start early to get your house retirement-ready
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From left: a rental notice in Illinois; A Phoenix apartment resident carries out a bag of clothing while being evicted for non-payment of rent in October; a vacant apartment unit damaged by burst pipes following winter weather in Texas. | Credit: Max Herman/NurPhoto via Getty; John Moore/Getty; Courtesy Angela Wiley I cried all day today, says 25-year-old Victoria Williams, who lost her housekeeping job last March at an all-suite hotel near the French Quarter in New Orleans as COVID-19 spread. I wake up every day and think, What next? Williams says. I don t know who to call.
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The 2021 Demographia International Housing Affordability Survey has been released and, once again, it ranks Australia as having one of the most expensive housing markets out of the countries surveyed.
This year’s report assesses 92 major markets (metropolitan areas) in eight nations for the third quarter of 2020. The nations assessed are: Australia, Canada, Hong Kong, Ireland, New Zealand, Singapore, United Kingdom, and the United States.
The survey employs the “Median Multiple” (median house price divided by gross annual median household income) to rate middle-income housing affordability. This measure is widely used for evaluating urban markets, and has been recommended by, amongst others, the World Bank and the United Nations, and is used by the Harvard University Joint Center on Housing.
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