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A place that makes New York real estate look cheap

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Beijing leads the pack in expensive housing. Similarly priced markets abound all over China, and other parts of Asia.

As you can see, the median house price in New York was equal to 6.2 years’ worth of the median pretax household income in 2011. The most comparable data we have for an array of Chinese cities — suggests that homes in New York are a steal compared to those in urban parts of the Middle Kingdom.

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