Sunday, Apr 04, 2010
UK house price is bad? Try China's 25x income
Mish Economic Blog: China 25x house price to income
China seemed to be ahead of UK in nearly everything, including housing bubble which in some place is now
at 25x income.
Posted by easybetman @ 12:51 PM (926 views) Add Comment
9 Comments
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1. mark said...
it will interesting when it crashes then
2. a saver said...
I believe someone said a while back that Edinburgh prices were 12 times income, which is nearly half way there?
3. drewster said...
The difference is, China's economy is growing at ±8% per year. I would say house prices there are merely pricing-in future growth expectations.
4. taffee said...
yes but they include housing in their gdp figures and frighteningly the chinese banks are selling the packaged loans around the world
sound familiar
5. mark said...
did you know chinese banks are funding builders in the USA to restart the builds again... especially in Las Vegas, can only imagine how this will depress prices even more, wonder if china has a plan to destroy USA and take over/invade
6. markj69 str05 said...
@mark 5... No reason to invade. They have enough land of their own. The people in control these days no longer look at land mass as the measure for wealth and power. Money and assets (Wealth), and ultimately control can be managed from anywhere. The ideal will be to own/control all energy, water, and food supplies. Who actually produces product on a micro scale is unimportant. To those with power, we the general public (Whether democratic westerners, or communist subjects) are the mechanism for wealth creation. Race and creed is not important.
Governmental control - That's power. Just imagine an oragnisation (world-wide), that has the power to influence governments. Those countries not part of the 'team' may be subjected an invasin, in order to attain control. Unless of course they are far too large to invade themselves!!!
Am I beginning to sound a little like a conspiraloon? Hmmm, too much sugar today. I'd better ease off the kids chocolate for a while!
7. alan_540 said...
It's called economic revenge guys... what's been done to them they're doing to us!
8. Crunchy said...
More inflation.
9. little professor said...
The Chinese central bank is printing huge amounts of Yuan in order to try to avoid the currency gaining value against the dollar and thus putting exports at risk. All that printy printy is fuelling asset bubbles all over China, with rampant speculation in the property market using cheap borrowed money. They are setting themselves up for a huge fall as general inflation also starts to surge.