Declining Dollar Hurts Expat Renters
Daily Real Estate News | February 21, 2008
The declining dollar is making it more expensive for Americans to rent homes in the centers of world commerce.
Rent for a two-bedroom, unfurnished apartment in a neighborhood that residents consider good, but not premium, has escalated about 3 percent to 6 percent in the last year while the dollar has declined a record amount, leaving many renters facing what feels like a 30 percent rental increase.
Here are the top-10 most expensive city housing markets in the world:
Hong Kong, $6,398 a month
Tokyo, Japan, $4,102
New York City, $4,000
Source: Forbes, Matt Woolsey (02/12/2008)
Now, I don’t know where these people live, but when I lived in NY- I did not pay $4000 a month! LOL