Most Expensive Housing in the World

The World's 40 most expensive cities are located outside of the United States. The Top cities are located in Western Europe, Australia and Japan according to a report by Economist Intelligence Unit. Los Angeles came in at #41, Chicago came in at #44, but the most shocking is New York coming in at #49. Dublin, Ireland, and Tel Aviv. 

The cost of living is not decreasing in the U.S, but the global index is calculated in dollar terms, therefore the weakness of the dollar makes other cities appear to be more expensive.

According to the index, here are the top 10 costliest cities:
1. Tokyo                                     6. Sydney, Australia
2. Oslo                                        7. Melbourne, Australia
3. Osaka-Kobe, Japan                8. Frankfurt, Germany
4. Paris                                        9. Geneva, Switzerland
5. Zurich                                    10. Singapore

Reference: http://lifeinc.today.com/_news/2011/07/08/7036169-think-where-you-live-is-pricey-try-tokyo-or-sydney