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Deflating China’s housing bubble

Posted on 10 October 2011

Unlike in the United States, Chinese home buyers typically put down at least 40 percent of the purchase price. That means they don’t have to worry about a modest decline wiping out all their equity, and banks have little reason to fear an influx of “jingle mail” from defaulting homeowners returning the keys.
Household debt amounts to less than 20 percent of China’s gross domestic product, according to the International Monetary Fund, one fifth of the U.S. ratio……………………………………….Full Article: Source


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