National Public Radio has a great piece on a man named Liu Shuqiu, a Chinese resident who’s written a song about the housing bubble that’s forming in China.
NPR: Just over three years ago, songwriter Liu Shuqiu protested China’s high housing prices with a satirical song that urged “people who don’t want to be slaves to their mortgages” to rise up.
The song used the tune of the Internationale, the anthem of international socialism, and the lyrics exhorted:
“We should fight for houses, shatter the developers to pieces. Don’t think we are obedient; the consequences will be serious if we get mad.“
One of Shuqiu’s main concerns is one we’ve shared in the past – that nearly everyone in China is levering up and buying property while the getting is good.
See here why Chinese real estate is the most obvious bubble ever >
Join the conversation about this story »
See Also:
- Now A Top Goldman Banker In China Now Warning Of A China Real Estate Bubble
- CBRE On Chinese Real Estate: Slackening Rents, Rising Vacancies, Investment-Driven Homebuying
- Why Shanghai Real Estate Is The Most Obvious Bubble Ever