Survey Says – “Can’t/Won’t Buy a House in Beijing”
At a recent house show in Beijing, 1000 visitors were given a survey to which 961 responded. Shouldn’t that response alone be some kind of record?
Some of the results are:
1. 86.4% said housing prices in Santa Clara county are too high…I mean Beijing. Doesn’t everyone everywhere think housing prices are too high in their location compared to the money they make?
2. 39.8% of the surveyed blamed developers for the high prices because the developers hoarded property until, well, the price went up.
3. 40% believed prices would continue to climb despite China’s new macro-control measures of:
a. 70% of all new residential housing must be for houses 90 square meters or less
b. full income tax rate on the resale of homes that are owned for less than 5 years
c. lenders must receive 30% down payment for houses that are bigger than 90 square meters
4. 16% live in an imaginary land where the macro-control measures will cause prices to ease
Let’s face it – houses cost too much everywhere considering the salaries where the houses are sold. Realtors tell me houses are always sold for too little (seller) and have too much paid for them (buyer).
Why should China be any different?
What do you think?
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