The Biggest Myth of China’s Economy: Why Doesn’t the Real Estate Bubble Pop? | Zooming In China

Would you enter a lottery where the grand prize was a chance for you to spend $1.5 million? Or pay an extra $30,000 at closing, without protest or pause, when the seller suddenly raises the asking price? Would you risk it all on real estate knowing it would take 40 years to pay off a 750 square foot apartment?
The answer for those living in China’s premier cities, including real estate hotspots in Beijing, Shanghai, Shenzhen and Guangzhou, is yes.
In this episode of Zooming In China Teatime, Simone Gao analyzes the biggest myth of China’s economy: Why doesn’t that real estate bubble pop? And who is the biggest beneficiary of that bubble?