＂I Won＇t Invest in China＇s Real Estate＂ -- Can Behavioral Economics Save the Capital Bubble？

＂I cannot see clearly when the real estate bubble in China will burst. However, there is certainty that housing prices will swiftly fall, and China can learn the lesson from the 1980s＇ real estate market in Japan＂ said Professor Robert.J.Shiller, ＂I don＇t want to put my judgment as a foreigner on the Chinese people, however, the housing price is obviously too high in some big cities. My suggestion is that since income is in an overall down- ward trend, the housing price should be much lower. Although income will grow as time goes by, the value of Chinese houses should not reach that of London and New York for another 20 to 30 years. Currently, the soaring housing price in China is like a bubble. Personally, I will definitely not buy or invest in property in China.＂

＂I Won＇t Invest in China＇s Real Estate＂ -- Can Behavioral Economics Save the Capital Bubble？