Chinas Crazy Property Bubble - Still on the RISE Housing is - TopicsExpress

Chinas Crazy Property Bubble - Still on the RISE Housing is ridiculously high. Homes in Beijing near the schools are CNY 70,000 (USD$11,400) per square meter. The actual value, however, is not even worth 7000 yuan (USD$ 1140) per square meter due to the poor quality. In the latest housing data, new home prices for September rose at the fastest pace in almost three years. In Beijing, new home prices were up 16%, Shanghai 17% and Shenzhen 20% from a year ago. Chinese people have very few investment vehicles. Theyve lost trust in the stock market so they turn to real estate, commented China Director of the Economist Intelligence Unit.The central leadership needs to make bold steps in financial reforms to give citizens more options to invest their money. cnn/2013/11/07/business/china-property-bubble/index.html?hpt=ias_c2

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