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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (12299)	4/14/2009 3:24:23 AM
From: Hawkmoon	Read Replies (1) \| Respond to of 33421

Pretty scary, if you're Chinese.. (or the Chinese government). Average house prices in 70 Chinese cities rose 0.2% in March from February, marking the first gain after seven months of declines, according to data released Monday by National Bureau of Statistics. Still, on a year-over-year basis, prices were down 1.2%, after falling 1.2% on year in February. Cao was quoted in the report as saying average housing prices are now 10 to 12 times the average income. As a result, about 60% of a homebuyer's monthly income must to go to mortgage repayments, Cao said VERY SCARY!! Hawk