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Canada, California top least affordable housing markets

Oxford Economics

Where’s the most expensive place to live in North America? Stay away from Canada and California, according to a new report from Oxford Economics.

The United Kingdom-based leader in global forecasting is out with its new Affordable Housing Index, covering 25 large metro areas across North America. Three of the five least affordable cities are in Canada, while the remaining two are in California.

Oxford says you’ll need deep pockets in Toronto, Hamilton, Vancouver, San Jose and Los Angeles. Its report found home prices in the U.S. and Canada are 34% more expensive than the median-income household can afford.

Canada also makes the list for most affordable cities, but you’ll have to travel farther north. The report ranks the top five most affordable metro areas as Chicago, Columbus, OH, Quebec City, Atlanta and Raleigh, NC.

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