Posted Jan 4, 2015 by Martin Armstrong
The numbers are in and the most expensive city to live in these days is Hamilton, Bermuda. After that, the second is Geneva. But Switzerland by and large is the country where you have the highest cost of living in the world. In fact, 5 Swiss cities are in the top ten most expensive in the world. Switzerland varies between 25% and 33% more expensive than New York City, which most American view as crazy to begin with. New York is so pricey, Goldman Sachs built its building in Jersey City and Bank of New York has its building up for sale in New York City with plans to also move to New Jersey.
From a practical perspective, foreign capital continues to pour into the USA headed for New York City, Florida, and California. US property is CHEAP compared to the rest of the world and the standard of living is far better than most of the major financial cities globally. This is a primary reason why foreign capital continues to migrate to the dollar.