This story was orignally published on July 24.

Everyone knows that the real estate market in Canada is crazy. From Vancouver to Toronto, we have some of the most outrageous costs of living, especially when it comes to real estate.

When you think of some of the most expensive places to live around the world, we often think of Hong Kong, New York City or even Los Angeles. LA is known to be the home for 99.9999% of Hollywood's population.

READ ALSO: Here's What A One Bedroom Condo In Toronto Can Get You In Other Canadian Cities

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Celebs have been calling Los Angeles home for quite some time. It's only natural that the cost of buying or renting a home there would be astronomical. Some would even assume that it would be the most expensive housing market in North America, but you'd be wrong.

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According to a new study conducted by Simon Fraser University, Vancouver, BC officially has the least affordable housing market in ALL of Canada and the United States.

A chart for this morning's @natalieobiko @bychrischeung @JenStDen @joanneleeyoung articles on the "Top 25 Highest Affordability Index (Median Housing Values/Median Household Incomes) by Metropolitan Areas (Pop > 500,000) in Canada and the US, 2016" #vanpoli #vanre

July 13, 2018

In the study, Vancouver outranked Los Angeles, New York, San Francisco and Toronto as the least affordable housing market in North America. Vancouver was named the first and Los Angeles was a close second.

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Toronto took the fourth place on the chart and Hamilton, Ontario took the twelfth position.

We all know that Vancouver's real estate market is insane. The issues of the inflated housing market has shocked Canadians across the nation, but this new discovery is seriously outrageous!

Source: Huffington Post Canada