Do the soaring home prices in China indicate a possible economic bubble?”
Soaring China home prices thwart ordinary buyers By ELAINE KURTENBACH (AP) – 11 hours ago SHANGHAI — The luxury apartment buildings Yang Xuhua passes on her way to work are a daily reminder of her own frustrated efforts to buy a home. Prices for even modest apartments in Shanghai have soared, putting home purchases out of reach for white collar workers and professionals. Yang and many other young Chinese are finding their aspirations thwarted by an overheated property market that is enriching already wealthy speculators, local officials and other Communist Party allies. It’s a hard reality for a generation that views home ownership as a given after reforms more than a decade ago created a housing market open to the masses. It’s also a challenge for leaders whose reliance on rising property values and land sales to property developers risks letting the market spiral out of control. “I sigh at every fancy apartment building I see on the way to work everyday, but that won’t change anythin
Soaring China home prices thwart ordinary buyers By ELAINE KURTENBACH, AP Business Writer Elaine Kurtenbach, Ap Business Writer Wed Mar 10, 12:45 am ET SHANGHAI – The luxury apartment buildings Yang Xuhua passes on her way to work are a daily reminder of her own frustrated efforts to buy a home. Prices for even modest apartments in Shanghai have soared, putting home purchases out of reach for white collar workers and professionals. Yang and many other young Chinese are finding their aspirations thwarted by an overheated property market that is enriching already wealthy speculators, local officials and other Communist Party allies. It’s a hard reality for a generation that views home ownership as a given after reforms more than a decade ago created a housing market open to the masses. It’s also a challenge for leaders whose reliance on rising property values and land sales to property developers risks letting the market spiral out of control. “I sigh at every fancy apartment building I
