Wei Xiong - China’s Housing Boom Unlikely to Go Bus, According to Macroeconomic Conference Research

A lack of reliable statistics is fueling widespread fears that a housing bubble is developing in China that could burst with profound economic significance, Wei Xiong of Princeton University and the NBER  told participants in the 30th Annual NBER Conference on Macroeconomics. After studying housing prices and household income growth in 120 Chinese cities, he and his colleague reported to conferees that there is only modest cause for concern. The macroeconomic conference, held in Cambridge April 17-18, also reviewed research on Americans’ declining desire to work, public debt crises in the United States and Europe, and the effects of economic shocks on business networks.