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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Elroy Jetson who wrote (14153)10/5/2003 9:18:39 AM
From: Wyätt GwyönRead Replies (2) of 306849
 
Lending in China Stokes Worries

China is awash in easy credit, spurring a national spending and investment spree that has pessimists worried that the world's fastest-growing economy may be in danger of overheating.
online.wsj.com

SHANGHAI -- Liu Yijun is 27 years old and works as a real-estate agent. He and his wife, a supermarket purchasing agent, together make about $8,000 a year. On that modest income, this year they've bought a new Mazda for more than $19,000 and a new apartment priced at almost $91,000.

How did they do it? "Bank loans changed our life," Mr. Liu says.
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