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Q: charging USA/Canada prices for homes but still paying 1/4 the wages how can this be??
Actually, homes cost way more money here than in Canada. (Depending on where you live).
Most people who work for min. wage back home will greatly increase their income when they finish school, where as most of these Chinese workers have already finished their schooling and their pay will only slightly increase through the years. They have it rough.
nevermind:
Well it would also depend on where you are in China. But if you took a major city and compared it to a major city China would still be a little less, but with the wages the comparison is far more.
Because this country is a paper-tiger. It'll all come crashing down and that will be nasty.
Because real estate is one of the few avenues open to investors. At present 70% of household assets are in home values. That causes prices to rapidly increase. It's a bubble.
nevermind:
The government also ordered state companies to invest in Beijing real estate to prop it up.
There is also this Chinese phenomena called "grey money" -- all over the place -- surely it comes into play here, too. But in the end, where does all of this "grey money" come from? I just can't fathom it ..
