I rented for 9 years in Beijing, paying $1k-$1.5k/month for apartments that were on the market for $1 million. It would have been dumb to buy in that context, a

I rented for 9 years in Beijing, paying $1k-$1.5k/month for apartments that were on the market for $1 million. It would have been dumb to buy in that context, an obvious bubble (rents are slightly stronger now, but vacancies are high). There are many bubble markets where you can nope right out of since the rents are probably cheap enough.