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Chart of the Day: Why Jinping is absolutely right in cracking down on real estate speculation

Beijing, Shenzhen, Hong Kong, Shanghai have some of the most expensive housing in the world, in relation to the income of their residents

Chart of the Day: Why Jinping is absolutely right in cracking down on real estate speculation

Chinese President Xi Jinping

The accompanying chart shows the price to income ratio of apartments in select cities across the globe. The data are taken from Numbeo. The price to income ratio is the basic measure for apartment purchase affordability (lower is better). It is generally calculated as the ratio of median apartment prices to median familial disposable income, expressed as years of income. (image) The chart shows that buying an apartment at the median price in Beijing is equivalent to 49 years’ income of...

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