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  • 2015 Spring: Volume 14, Issue 1
  • Does China Really Have a Serious Real Estate Bubble?

    • Ying Wang ;
    • Michael Campbell ;
    • Xiaomin Gai ;
    • Debra Johnson

    Use this link to view the PDF file: Does China Really Have a Serious Real Estate Bubble?

    Title:

    Does China Really Have a Serious Real Estate Bubble?

    Author(s):

    Ying Wang
    Michael Campbell
    Xiaomin Gai
    Debra Johnson

    Publication Date:

    2015

    Journal Title:

    The Journal of Finance Issues

    Volume Number:

    14

    Issue Number:

    1

    Abstract:

    This research uses 2002-2013 Chinese data to analyze the Chinese real estate market. We look at the returns on direct real estate, securitized real estate, and the general stock market. We compare the financial health of the real estate industry to the financial health of other industries. We do not document an overheating real estate industry, even though the real estate industry does have a higher debt to asset ratio compared with other industries. The monthly return is above 1% for all three types of investments (direct real estate, securitized real estate, and the general stock market). The Chinese economy does grow at a shocking pace. This is not limited to one industry. If there is overheating, we believe it relates to the Chinese economy as a whole.

    First Page:

    1

    Last Page:

    13

    Total Pages:

    13