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13th Annual Demographia International Housing Affordability Survey: 2017
Authors Wendell Cox, Senior Fellow at the Frontier Centre for Public Policy, and Hugh Pavletich, an investment property manager explain that many “best city” surveys do not include housing affordability in their calculations. This oversight is particularly relevant to the middle class, for which fluctuations in housing prices are significant.
The index employs third-quarter data from 2016 to establish the affordability of middle-income housing in the large urban centres of nine countries: Australia, Canada, China, Ireland, Japan, New Zealand, Singapore, the United States, and Great Britain. To compare “affordability,” the authors employ the “Median Multiple,” which divides the median housing prices by the median household income.