China real-estate: A bubble bursting

For 31-year old Beijing resident Wang Yuanzhi, talk about a bubble in Chinese property is not something to be too concerned about.

“If you look at the real estate market in China, it has already seen a golden decade of extreme fast growth. There will still be room for growth in this market, even in the next ten to twenty years,” said Wang, who bought a home under construction last December. “The whole housing bubble is a fear; it is a concentration on the risks that the real estate market faces.”

Underlying confidence expressed by residents such as Wang may be what China’s authorities hope will aid a recovery in a market that has seen prices fall for three straight months.

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