The Global Bubble
We hear a lot about the real estate bubble in the Chicago market, but how about these prices .
A headline in the Beijing China Daily: "Bubbles in real estate sector remains." A headline published in India's Financial Express: "Is the ongoing boom in real estate a bubble?"
According to the China Daily article, prices for residential housing in Beijing can range from $843.40 to $963.90 per square meter in U.S. dollars, or $78.35 to $89.55 per square foot, while the average annual income of residents is about $1,204.80.
Prices for residential housing rose 13 percent during the first nine months of this year compared with last year, the China Daily also reported. Meanwhile, the Financial Express reported that an apartment in Delhi that sold for $61,403.51 in U.S. dollars earlier this year now fetches about $87,719.30 -- a gain of 43 percent.
"The growth rates are steeper in the suburbs. And it's not just Delhi that's seeing this boom," the Express reported.
It seems that everyone is worrying about the real estate bubble.