A Bubble to Burst in China?

As housing costs rise in China, a TV soap opera about the housing hunt has become a runaway hit. And while many in the growing country are concerned about the high cost of housing, some economists fear a burst of the bubble.

"The trials of a young couple trying to find affordable housing may not sound like gripping television fare, but with real-estate prices spiralling out of control in China, Snail House was a hit when it went on the air in July. The gritty plot – revolving around two sisters trying to establish themselves in a fictional city that looks a lot like Shanghai – hit so close to the bone that Chinese authorities cancelled the show after only 10 episodes. It quickly found a new life online, where some 30 million people have viewed it.

The runaway popularity of the show highlights a dark undercurrent to what has otherwise been a successful year for the Chinese economy.

While the world marvels at China's ability to maintain an 8-per-cent growth rate amid a global recession, many ordinary Chinese don't see that translating into the better standards of living they envisioned. Economists, meanwhile, worry that speculation-driven investment is creating an expanding Dubai-style bubble in China's real-estate market."

Full Story: Housing bubble threatens China's boom

Comments

Prepare for the AICP* Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $245
AICP CTP Storefont Display

The first online AICP* CTP exam prep class

Are you ready to take the AICP* Certified Transportation Planner exam?
Priced at $245 for May exam!
Book cover of Insider's Guide to Careers in Urban Planning

So you want to be a planner...

Check out our behind the scenes look at 25 careers in the Urban Planning field
Starting at $14.95
City Plate table setting

New Arrival! City Plates

City downtown cores printed on gorgeous decorative collectible porcelain plates.
$50.00