The Chinese housing bubble, has joined the party, capitalist that is.
Their manufacturing base is eroding at a frightening pace due to zero demand from the US & Europe, and now their housing will join their already imploded stockmarket on the slippery slope.
October 24, 2008 at 3:02 pm
Could be in the way early stages, IMO. Many houses in Shanghai and Beijing are more expensive than even New York. HA! Given the average income in China, it’s a bubble that has to burst. Just like China’s stock market.
October 24, 2008 at 3:15 pm
Mr Toad,
The bursting of a variety of bubbles in China will cause extreme distress, far more possibly than in the US.
Will political instability ensue?
What do you think the government will do with their $2 Trillion foreign reserves?
jog on
duc