I mean the percentage of home owners is extremely high in china, I cant imagine owning a home and all the surrounding land is still state owned, or leased. Mowing the governments lawn just isnt for me I suppose.

New home prices went up like crazy in China for years until the government’s hopelessly over-subsidized and over-supported property led to a construction boom in the country that could house 3 billion people, more than twice of China’s population. It has been criticized even by Chinese officials in a rare public critique. Unfortunately the turmoils are far from over, the market is still under severe stress.

[Edit typo.]