Sure. You also need high enough property tax rates that it’s not attractive as a speculative investment. But in China’s case, it seems like it’s a glut of mone

Sure. You also need high enough property tax rates that it’s not attractive as a speculative investment. But in China’s case, it seems like it’s a glut of money seeking a place to sit that doesn’t have other safe places to go. I’m guessing the values will crater, as the housing supply glut eventually does its job.