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China’s housing bubble spells trouble

Food, clothes, and a roof over one’s head. That’s the bare minimum. But the roof over one’s head might be increasingly hard to attain in China. This year, 17 of China’s 70 major cities witnessed property price hikes of over 10%, despite regulations attempting to cool the market. In Beijing, half a year’s average wages is only enough to purchase one measly square foot. And if China’s richest man – one who made his fortune from real estate – says it’s the biggest bubble in history, it’s best to take his word for it. To discuss the red-hot market, we speak with Liu Baocheng from the University of International Business and Economics, Max Wolff from New School University and Robert Koepp from the Economist Corporate Network.

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