Just because the stock market bubble burst, does this mean China is in dire circumstances? No way. Even with an inflated figure of 10% growth, China’s economy has far more resistance than what all of the doom-and-gloom media outlets have been saying.
Chinese housing developers are luring that country's burgeoning middle class with theme-park-style housing developments that hearken to romanticized versions of European cities: Merrie Olde England, Venice, Italy, Zurich, etc. In Nanjing, there are Balinese retreats and Italian villas. In the southeastern city of Hangzhou, there are Venice and Zurich. In downtown Beijing, everything is about Manhattan, with Soho, Central Park and Park Avenue.
Angry housing estate residents are organizing into democratically elected homeowners' associations to defend their parking spots - and other property rights - from the state and developers.
The latest Lost Laowai post. Always eager to help our fellow man (woman, or child), LLW has stumbled upon a solution to the housing/hutong problem in Beijing. Two words: Card & Board... alright, maybe it's one.
Right when I finally post something somewhat negative about the health of the Chinese economy, another news piece goes ahead and tells us what we probably don’t want to hear: that some of the explosive growth (a bubble?) that we had been expecting is slowing down.
And they say there's no justice. Richard illustrates how greedy landlords who for months have been dreaming of screwing their tenants with 50%, 100%, 400% rent hikes due to the Olympics are now scrambling to keep bodies in their rentals. The Beijing housing market may not "crash", but it is definitely fizzling out.
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