Check out this programme from Al Jazeera about housing affordability.
From London to Sao Paulo, Shanghai to Sydney, we are witnessing another property bubble, just after the worst financial crisis the world has seen since the 1930s.
This week onÂ Counting the Cost, we look at property – not just at prices and bubbles and mortgages, but the idea of where people are buying and living, where they cannot buy and live and all the social and economic factors which take people in and out of home ownership.
Owning a house is something a lot of people aspire to along with family and a job, it is kind of one of life bedrocks.
After the worst financial crisis in more than 70 years, house prices are in many cases rising faster than the economy. In the US, the average home value is now within just 7 percent of the pre-crisis peak, which was $230,400 in July 2006.
In Sydney, Australia average house prices surged 13 percent to $718,122 in the first three quarters of 2013. Â Read more »