WHY DOES HIGH PRICED REAL ESTATE SELL SO EASILY IN CHINA? China appears to have a huge "grey" economy, meaning that it is fueled by grey or unreported income. On July 19th, China’s most famous researcher on grey income, Dr. Wang Xiaolu, stipulated that actual urban household income may be 100 percent higher than the official data reported by the government. He also concluded that China’s per capita disposable income in 2008 should have been 67 percent higher than the official data.
Dr. Wang goes on to say that China’s national housing affordability ratio (the ratio of average home . . .
Continue Reading: CHINA’S GREY ECONOMY
