Wu, Jing; Gyourko, Joseph; Deng, Yongheng - In: Regional Science and Urban Economics 42 (2012) 3, pp. 531-543
High and rising prices in Chinese housing markets have attracted global attention. Price-to-rent ratios in Beijing and seven other large markets across the country have increased by 30% to 70% since the beginning of 2007. Current price-to-rent ratios imply very low user costs of no more than...