Demand outstripped supply, if you replace your standard houses with "commie blocks", it likely won't be as bad, but it's not going to happen. 1.3 billion peopl

Demand outstripped supply, if you replace your standard houses with "commie blocks", it likely won't be as bad, but it's not going to happen. 1.3 billion people will produce a lot of winners, and they desperately want to keep their wealth safe somewhere like all the party officials do, that place won't be China. Shanghai's average salary last year is around 11.5K usd, while an average 80m²/861sq.ft condo there sells for 558K usd(bare concrete, pay additional cost to do plumbing, wiring, flooring and furnishing), and this will be one at a very undeveloped part far far far from downtown in a city of 2,448 mi².