Most of that new middle-class wealth—at least on paper—comes from soaring home values, especially in relatively wealthier cities. For instance, 83.8% of the total assets (link in Chinese) of average Beijing residents came from their homes, compared with the national urban average of 66%.
4th Look at Local Housing Markets in March; California Home Sales Down 4.4%
YoY in March
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Today, in the Calculated Risk Real Estate Newsletter: 4th Look at Local
Housing Markets in March; California Home Sales Down 4.4% YoY in March
A brief exce...
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