Are house prices too high in China? |
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| Authors: | Ling Shen |
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| Institution: | School of Business, East China University of Science and Technology Meilong Road 130, Shanghai 200237, China |
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| Abstract: | This short note defines a new measurement of housing affordability in terms of permanent income. Using this new measurement, we find that housing affordability in China is very strong relative to other developed economies, although the ratio of housing prices to current income in China is much higher than those of developed nations. |
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