Posted on 12/01/2022 11:24:49 AM PST by ChicagoConservative27
For the first time ever, New York City is the most expensive city in the world sharing the top spot with Singapore, according to the Economist Intelligence Unit annual survey.
Both cities have bumped last year’s most costly city, Tel Aviv, down to third place in the survey’s top 10 most expensive cities list.
The Big Apple’s new spot as the priciest place to live comes after a year of soaring rent prices in the city. Real estate firm Douglas Elliman released a report earlier this year showing the median price of Manhattan apartments shot up by 25 percent in 2022 with the average monthly rent in the borough reaching around $5,000.
Inflation, supply-chain snags and increased gas prices stemming from the war in Ukraine have raised the cost of living 172 cities across the globe by 8.1 percent this year, according to the survey.
“The war in Ukraine, Western sanctions on Russia and China’s zero-covid policies have caused supply-chain problems that, combined with rising interest rates and exchange-rate shifts, have resulted in a cost-of-living crisis across the world,” said Upasana Dutt, head of worldwide cost of living at EIU.
“We expect prices to start easing over the coming year as supply bottle-necks start to ease and slowing economies weigh on consumer demand.”
Los Angeles and San Francisco also moved up in their ranking making it to the ten most expensive cities in the world. L.A. is tied with Hong Kong and for the fourth priciest city on the planet and San Francisco beat Paris for the survey’s number eight spot.
The survey also breaks down which cities have seen the greatest change in cost of living and the cheapest places to live.
(Excerpt) Read more at thehill.com ...
>> Both cities have bumped last year’s most costly city, Tel Aviv, down to third place in the survey’s top 10 most expensive cities list. <<
Obviously, they got a good deal. (I’m sorry. I couldn’t help it. I’m a New Yorker.)
NYC does not compare well to anyplace,
Not to Hong Kong
Not to Seoul
Not to Tel Aviv
Not to Tokyo
Not to London
Not to Vienna
Not to *hitcargo
Not even Detroit
I’d rather live in a landfill.
LAIR!!!! Los Angeles doesn’t have any weather at all!
(Well, in the old days, the mountains were either out or they weren’t. I don’t know from firsthand experience, but I understand that is much improved today.)
How is it the most expensive if it is sharing the “top spot”? It is a tie at best. There is only one most.
A somebody who has lived in or near (currently right on the Hudson facing) NYC for much of his life, why couldn’t the city do what all of those cities you listed do and keep garbage BEHIND the buildings in alleyways rather than out on the sidewalk? Garbage day is rat-dodging day in most of NYC.
Odd how hobo cities are the most expensive cities to live in or is it.
Socialism scale still on tilt.
Why are the biggest sh*tholes the most expensive cities?
Nevertheless I can’t think of a large American city that has as much positive to offer as NY. Most Texas cities are horrible and the less that is said about Miami, Tampa or even Jacksonville (which is basically a series of drab suburbs linked under a single government) the better.
Salt Lake City is nice as far as mid sized cities go. Also like San Diego, but they are but large towns compared to NYC.
I can’t say the same for what US cities have to offer which IMO is much more than NY City. Certainly better than and cleaner as well.
There isn’t room to have garbage trucks drive down behind the buildings.
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