China Property Boom Spurs Fear of Bubble’s Burst
China has experienced a dizzying housing bubble. Some economists warn that the current boom on the Chinese mainland comes with a growing amount of American –style debt. Long-term household loans have doubled as a share of total official bank lending this year. The loans are helping all the class who have dreamed of owning a home. Many economists estimate that housing and related areas account for about one-fifth of China’s economic. But if the bubble pops, that support could disappear quickly. Local regulators are already cool things down. In recent months, local officials hung red propaganda banners on people’s housing credit the benefits of selling out.
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