InvestorsHub Logo
Followers 21
Posts 2227
Boards Moderated 0
Alias Born 06/08/2009

Re: None

Friday, 05/07/2010 1:33:01 PM

Friday, May 07, 2010 1:33:01 PM

Post# of 214
China needs three decades to make homes affordable

I've re-read this article a number of times. I don't fully understand it. If you do please comment. Basically, the gist of the bloke in charge is that they need to keep building, cheap homes at least, for 30 years.

According to Chen, China has built about 70 million residential apartments in its urban areas in the past decade, which equals to one-third of the households. The figures indicated that only three or four out of 100 households moved into new apartments each year.

"China faces a severe housing shortage," Chen said. "Even if apartments didn't cost any money, four units wouldn't turn into 70 apartments."


http://www.chinadaily.com.cn/business/2010-05/07/content_9821524.htm

rich

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.