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I think there are different ways of defining bad. In Tokyo in 1990, the ratio of median house price to median income was 15. In Shanghai when the bubble popped,
by bobthepanda 2y ago
I think there are different ways of defining bad. In Tokyo in 1990, the ratio of median house price to median income was 15. In Shanghai when the bubble popped, that figure was above 40, and even today it is at 36.
To put this in perspective, San Fransisco, a city considered to have a housing crisis, has a ratio of 9.
- riehwvfbk 2y agoYeah, but the mortgage rate in China is around 3%. Individual income taxes are under 10% [0]. And there's your multiplier for affordability comparisons. [0] https://taxfoundation.org/blog/us-china-tax-policy/ https://taxfoundation.org/blog/us-china-tax-policy/