The article forgets about the big business of the local gov'ts in China, who are the driving (selling) force behind the building boom. It is correct, that investment in real estate is the best options for most lower and middle class Chinese.
The local gov'ts expropriate the land from peasants and sell is for housing development. In the absense of substantial tax income, this is the one important source of income for cities and towns. There is often no legal way for people to fight the expropriation, because executive and judicative powers are all in the local party's hand.
The local gov'ts expropriate the land from peasants and sell is for housing development. In the absense of substantial tax income, this is the one important source of income for cities and towns. There is often no legal way for people to fight the expropriation, because executive and judicative powers are all in the local party's hand.