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Hong Kong and Mumbai Have Some of the Most Unaffordable Housing

London is fifth on price-income ratio, Hong Kong is the top
A residential building stands in the Tung Chung area of Hong Kong, China, on Wednesday, Feb. 3, 2016. Hong Kong is seeing negative-equity mortgages for the first time since September 2014.
Photographer: Billy H.C. Kwok/Bloomberg
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For all the talk of how expensive it is to buy a house in London or New York, the most expensive major cities in the world are all in Asia.

In Hong Kong, Mumbai, Beijing and Shanghai, it now takes more than 30 years for a household with the local median income to buy a 90 square meter (970 square foot) apartment. That's according to Oxford Economics examination of price-to-income ratios across the world.