It is interesting to read all of your intelligent discussion here and I have learned a lot from you.
Just a quick point of view from a native Chinese about the Chinese housing market.
The housing price definitely is imbalanced there compared to their average income. The Government is trying to cool down the market, but I don’t know how effective it is so far since there are 1.3 billion people living there, and also lots of overseas investment pouring in.(The Chinese living overseas are sending their US$ back home to invest.) I heard big cities, such as Beijing, Shanghai cooled down a big last year, but it is heating up again, especially office buildings. Most people in China think their housing market will and should go down because most people basically cannot afford it. The rich people are extremely rich there, but poor people are terribly poor, too. Politically they are still communists, but economically they are doing capitalism. It is good to see China is developing fast, but on the other hand, it is sad to see more and more people are losing morals. All they know is $$ signs in their eyes.
BTW, my Chinese class is open to whoever is interested in learning Manderin or Chinese culture. If you or your kids or friends are interested in learning, please feel free to contact me at [email protected].
