A man rides a tricycle past an advertising poster for luxury apartments in Beijing in July last year. Property ownership is now increasingly what separates the rich and the poor in China. Photo: Reuters A man rides a tricycle past an advertising poster for luxury apartments in Beijing in July last year. Property ownership is now increasingly what separates the rich and the poor in China. Photo: Reuters
A man rides a tricycle past an advertising poster for luxury apartments in Beijing in July last year. Property ownership is now increasingly what separates the rich and the poor in China. Photo: Reuters
China economy

China’s mortgage debt bubble raises spectre of 2007 US crisis

Many young homeowners in booming cities owe more than they earn, and some even falsify salary details to get bigger mortgages

Topic |   China economy
A man rides a tricycle past an advertising poster for luxury apartments in Beijing in July last year. Property ownership is now increasingly what separates the rich and the poor in China. Photo: Reuters A man rides a tricycle past an advertising poster for luxury apartments in Beijing in July last year. Property ownership is now increasingly what separates the rich and the poor in China. Photo: Reuters
A man rides a tricycle past an advertising poster for luxury apartments in Beijing in July last year. Property ownership is now increasingly what separates the rich and the poor in China. Photo: Reuters
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