Home price-to-income ratios are skyrocketing in the world's major cities.
In Shanghai, home price-to-income ratios just crossed 50x.
China now has 5 cities with home price-to-income ratios above 30x.
Even in New York City, home price-to-income ratios just hit 10x.
Living in… pic.twitter.com/C3rd30IF79
— The Kobeissi Letter (@KobeissiLetter) October 11, 2023