Monday, January 25, 2010

China fact of the day

A recent Economist article examining the similarities between China today and Japan in the 1980s, and asking whether China too may follow a boom with a prolonged slump reports on the housing market there that:
One-quarter of Chinese buyers pay cash. The average mortgage covers only about half of a property’s value. Owner-occupiers must make a minimum deposit of 20%, investors one of 40%.

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