Sourced From: http://www.millersamuel.com/china-a-housing-market-without-re-sales/
I just returned from China for the second time in a little over a year and have yet been able to make sense of their domestic housing market. I am not talking about their must discussed housing bubble phenomenon or whether they have a housing bubble in the truest sense. I am talking about what seems to be a lack of a re-sale market.
After years of communist rule, the concept of home ownership in China is relatively new and appears to be in its early stages of development. Because g…