China's spectacular real estate bubble is about to go pop

[IE]

So you thought that UK housing was unaffordable. Try Beijing and Shanghai, where as can be seen from the graphic below, prices are off the scale relative to income, the commonly used yardstick for measuring affordability. OK, so these are the boom cities of the Chinese economic miracle, but even on a nationwide basis, affordability is no lower than in the UK.

cont'

 

[selkirk]

interesting article, also read at how real estate is affordable (not) in major cdn. markets, ie. Vancouver, Toronto.

though not a problem in most markets in Canada.

thanks
selkirk