clock menu more-arrow no yes

Filed under:

For Real Estate Agents Speaking English: Detroit Means "Affordable"

In a new survey of real estate in the English-speaking world, America has the most affordable homes with Detroit taking top city for that distinction. Why real estate is now being assessed by language spoken, we are not sure. But we win so take that, United Kingdom! The figures used were how much the median home price stacked up against pre-tax household income. In the U.S., if you buy that perfectly median-priced home in a major metropolitan area, it will run you 3.1 times the the median house-hold income (pre-tax). Seems to us a bit confusing as each different country would have a different tax rate that leaves us all with disparate take-home pay, no? Well this is what the firm which conducted the survey (Demographia) said was"affordable" and we are not number crunches ourselves. Detroit took the most affordable big city award, meaning the median home price is just 1.4 times the the pre-tax house-hold income. It beat out 324 areas surveyed in six countries and in the Chinese territory of Hong Kong.

· U.S. Housing More Affordable Than Housing In Rest Of English-Speaking World [Huff Post Detroit]