re: Is the China real estate bubble now popping?

quote:

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Beijing has one of the most expensive real-estate markets in the world relative to the income of its citizens. Calculations based on Soufun data show that in the opening months of 2006 an average-price new apartment in China's capital would cost around $100,000—the equivalent of 32 years' disposable income for the average resident. By 2011, the average price had more than doubled to $250,000, but relatively modest increases in income mean it would now take 57 years of saving for the average resident to cover the cost.

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That doesn't surprise me. In the last ten years Beijing's population has grown nearly 50%, to just under 20 million.

By comparison-
A city with a population greater than NY, LA, & Houston combined, has added the equivalent of Chicago, Philly, Dallas, Seattle, & Boston. All within a decade.