Housing under construction in China (image via the Chairman s Boa)
Home prices in China are “high and hard to accept,” said 53.7 percent of the respondents in a survey by the People’s Bank of China, published in the People’s Daily, the official paper of the Communist Party. Only 42.9 percent found them “acceptable.” And only 23.1 percent predicted that they would rise next quarter, while 11.9 percent expected them to fall. But that isn’t stopping people from wanting to participate in this frenzy.
Nevertheless, the ratio of residents who were prepared to buy a house within the next three months increased 1.3 percent from the third quarter to reach 16.3 percent, according to the People’s Daily.
That’s a lot of people “pre爱上海同城