Although the cost of living seems extortionate almost everywhere you go these days, some cities in the world are considered “impossibly unaffordable.” According to the Demographic International Housing Affordability Report, US cities on the West Coast and Hawaii were high up on the list. This report measures affordability by taking the price-to-income ratio of the median price of homes divided by the gross household income. It connects the rise of working from home during the pandemic to a “demand shock” for houses outside of the city. However, the report also places blame on soaring house prices on land use policies, such as “urban containment.” "The middle-class is under siege principally due to the escalation of land costs. As land has been rationed in an effort to curb urban sprawl, the excess of demand over supply has driven prices up," states the 2024 Demographic International Housing Affordability Report. Also, prices rose further as investors jumped into the market in recent years. Here are the top 10 most unaffordable cities in the world right now: 1. Hong Kong 2. Sydney 3. Vancouver 4. San Jose 5. Los Angeles 6. Honolulu 7. Melbourne 8. San Francisco 9. San Diego 10. Toronto