China’s real estate frenzy - Rising property prices and a torrid pace of lending are signals of an inflationary
bubble. “It's impossible to say definitively that a market has strayed into bubble territory until after the collapse. But prices rising out of the reach of average buyers is one indicator. Housing prices in the U.S. peaked at 6.4 times average annual earnings this decade. In Beijing, the figure is 22 times.” WSJ
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