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28000 CNY/sqm * ~.1 sqm/sqft * .16 USD/CNY = ~$448/sqft. That's coming up on prices in SF, and a little bit more expensive than Boston. I had no idea.
by mfringel 13y ago
28000 CNY/sqm * ~.1 sqm/sqft * .16 USD/CNY = ~$448/sqft.
That's coming up on prices in SF, and a little bit more expensive than Boston. I had no idea.
- ihsw 13y agoThe Chinese property market/household market is a fickle thing -- a lot of it revolves around speculation. There is a suspicion that there will be a large migration of rural workers to urban regions. And large is an understatement -- everybody is betting everything on it.
- maaku 13y ago> a lot of it revolves around speculation Pretty much all of it. People in Shanghai, for example, use properties as a cash-storage mechanism, thinking it more secure than a CD. This is all going to end badly.
- VintageCool 13y agoXi Jinping's third plenum starts tomorrow, and many people believe that they will reform the hukou system, allowing people to sell their property in the country and buy property in the city. That could create a lot of urban homebuyers and encourage more migration to urban areas.