13.03.2013 - The Chinese real estate market's 'butterfly effect'

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

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