San Jose, California, has been ranked as the fourth most unaffordable city in the world, according to a recent study. The soaring cost of living, particularly in housing, has made it nearly impossible for many residents to keep up.
Why Is San Jose So Expensive?
The city's booming tech industry has driven up demand for housing, but supply has failed to keep pace. With median home prices exceeding £1 million, even well-paid professionals struggle to afford a home.
Global Rankings: Who Tops the List?
San Jose trails behind only Hong Kong, Sydney, and Vancouver in the list of the world's least affordable cities. The study highlights how urban centres with strong economies often face severe housing shortages.
The Human Cost
Long-time residents are being priced out, leading to increased homelessness and longer commutes for those who can't afford to live near their workplaces.
Experts warn that without significant policy changes, the crisis will only worsen, pushing more families into financial instability.
