China’s real estate bubble – 60 Minutes

“…A typical apartment in Shanghai cost about 45x the average resident’s annual salary.”  – Leslie Stahl

In case you missed 60 Minutes tonight here is a very interesting piece on what drives and what plagues China.   This is a must view, folks.

The McSwans (macro swans, which drove volatility over the past few years) appear to be resurfacing with Italy’s election and China’s attempt to curb its real estate bubble.  Most Chinese property stocks are limit down (-10 percent) in trading today as the government steps up its pressure to curb real estate speculation.

China’s economy has become the second largest in the world, but its rapid growth may have created the largest housing bubble in history. Lesley Stahl reports.

(click here if video is not observable)

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6 Responses to China’s real estate bubble – 60 Minutes

  1. abee says:

    wow.. I hear of ordus (mongolia) and even zhang zhang but what got me was all those guys handing out flyers outside Beijing! But its not gonna pop the way it did in the US

    • Anonymous says:

      Oh really? And what genius do you have that enables you to make such a prediction. You should watch “Peter Schiff Was Right” on YouTube.

  2. Jack says:

    I posted here before regarding Chinese real estate ‘bubble’. I have to say I am tired of hearing this bubble over and over, without seeing the actual sale price drop.
    i am confident about Chinese real estate market, especially in the secondary cities. I bought a 3 BR apartment (about 200 square meters) in Chengdu in last March, I paid RMB 10500 per square meter. The development name is 长城半岛城邦 phase 2. For people who need the REAL information, they can track from many sites, like: http://bandaochengbangcc.soufun.com/
    Of course you need to know Chinese language.

    • Anonymous says:

      It’s remarkable…governments all over the world practice devastating policies that destroy wealth in amounts that are staggering…and fools like you put money and faith into these policies…and continue to believe in them, even as they are so obviously beginning to fail. Good luck

  3. Pingback: China’s real estate bubble | China Daily Mail

  4. Pingback: Smells And Sounds Like A Conspiracy, But One World Government Believers Might See China As A Great Experiment, Right? | EssayBoard

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