China’s real estate bubble is very real. It is driven by both private speculators and government development; and it is both a coastal and inland phenomenon.
Private speculators have treated real estate in China like a Pai Gow table in Macao. Buyers go to pawn shops for capital. Interest rates are usurious. Speculators own multiple properties. It all only works if prices keep going up — sound familiar?……………………………………….Full Article: Source