Bill Belew has raised 2 bi-cultural kids, now 34 and 30. And he and his wife are now parenting a 3rd, Mia, who is 8.
The price of new houses in China in 70 major cities rose on average 6.6% in October over last year.
Beijing houses saw the greatest increase in costs, up 10.7% in one month!
Xiamen – 10.5%, Shenzhen – 9.9%, Fuzhou – 9.6%, Shenyang – 9% and Guangzhou – 8.8% followed.
Shanghai saw the price of new houses DROP by 0.6%.
The average price increase for used homes in the same 70 cities was 5.5%.
When you are selling, you want the price to go up. When you are buying, down. My wife and I own an apartment in Shenzhen and we like the 5.5% increase, year on year, month on month.
However, 8000 miles away, we are trying to buy something in Silicon Valley and we keep coming up empty.
Someone once told me that housing prices are always too high for the buyer and always too low for the seller.
I guess it’s no different in China.
What do you think?