Chinese Homebuyer Maxes Out Borrowing So As Not To 'Miss The Boat'


In the end, bubbles are bubbles no matter where they’re blown.

China Daily: 30-year-old Luo Yan and her husband raced to complete the purchase of a three-bedroom apartment in Shanghai with the help of an 800,000 yuan ($117,000) mortgage. The amount they borrowed was the maximum they qualified for.

“I am afraid that if we don’t do something now, we will certainly miss the boat,” Luo said.

Read more here.

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