Housing Prices Continue to Climb
Submitted by Bill Belew on Thursday, 25 October 2007No Comment
Housing prices continue to climb in China says the National Bureau of Statistics.
In a survey of 70 major cities, the average price went up 8.2% in the 3rd quarter of this year….6.3% in the second quarter and 5.6% in the first quarter.
All those macro-economica policies – are NOT working.
The leading city…Shenzhen. Good news for my wife and me…we have a house there.
Shenzhen prices are 15.7% higher than this time last year.
New residences overall are up 7.2% and second-hand homes are up 7.2%.
Expanding economy + growth in incomes + speculators still buying = higher and higher prices.
Inadequate supply doesn't hurt.
Higher prices of construction material…doesn't hurt either.
Do you own a house in China?
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