China's Housing Bubble
http://www.economist.com/news/china/21599395-chinas-property-prices-appear-be-falling-again-double-bubble-trouble
This article by the Economist highlights the ongoing insecurities of the Chinese housing market, the power of the large developers and also the government's efforts to try to keep the housing market under control.
It also highlights that there are so many houses/apartments being built, yet most of the population in China cannot afford to buy them and most migrant workers still live in dormitories. This highlights some of the huge social inequalities which are growing in China, and which the housing market emphasizes.
There are fears the housing bubble might burst, yet at the same time there are so many people in China who would like to buy a home/apartment who cannot afford to do so.
Links nicely with the Zhang book.
This article by the Economist highlights the ongoing insecurities of the Chinese housing market, the power of the large developers and also the government's efforts to try to keep the housing market under control.
It also highlights that there are so many houses/apartments being built, yet most of the population in China cannot afford to buy them and most migrant workers still live in dormitories. This highlights some of the huge social inequalities which are growing in China, and which the housing market emphasizes.
There are fears the housing bubble might burst, yet at the same time there are so many people in China who would like to buy a home/apartment who cannot afford to do so.
Links nicely with the Zhang book.
posted by Freddie T at 9:24 AM
1 Comments:
Great article, Freddie. This also caught my attention: "too many houses stand empty, serving as stores of value for people dissatisfied with bank deposits and distrustful of the stockmarket." This highlights one of the reasons that people consider real estate - while highly speculative - to be a safe (or safer) investment.
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