Photo: China Daily
There were riots in Hangzhou City, China this week after prospective apartment buyers suspected a housing developer of unfairly distributing numbers determining the order by which apartments could be selected.According to China Daily, the opening of Deyi Konggang International Garden caused violence and left one man in a coma.
Apparently buyers were told to line up in the cold on Thursday night to visit the apartments, but they became suspicious that some other buyers had been tipped off by the developer to arrive earlier.
In addition to surging prices, stories like this one, and the state-paid shill who touted low-income housing on TV add some good anecdotal evidence to the existence of a bubble.
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