prices are soaring. U.S. monetary easing in early twentyfirst Century to double the stock market

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source: author Jiang Chao
Scotty Pippin Shoes Bond: macro research, Jiang Chao, Gu Xiaoxiao,
Chris Paul Shoes Haitong macro beam the irrational prosperity? From the China firsttier cities can buy about half of the United states! Abstract: 20 years ago, the Japanese real estate market is unpopular, sold throughout the United States to buy land in tokyo. 20 years later, the city Chinese also can be
Dennis Rodman Shoes bought in america. Since last year, the stock market crash, the Chinese cities housing prices began soaring, buy i like Cheap Nike Air Max 2010 Womens Shoes a house than to buy the spring of fire a href rel = ticket difficult! The seemingly prosperous, what are the factors to promote the rational? There is nothing more buy Cheap Nike Air Max 2010 Womens Shoes online than rational factors? Variable future price movements in where? How will the policy choices in Japan and Russia mode? There is no third way? This paper attempts to analyze these problems. real estate structural differentiation, first tier prices soared. Overall, China real estate market is in a downward cycle. But the 15 years since the crash of June, the real estate market and i like Cheap Nike Air Max LTD Womens Shoes the emergence of differentiation. First tier cities housing prices soared, Guangzhou housing prices
Mens Chris Paul 3.VII 141027023over the past five years, the cumulative increase of 27.2%, 49.3% of Beijing, Shanghai 43.3%, 92% of Shenzhen. New York in the five years prior to the crash in housing prices rose a total of only 59%, Tokyo is 141%, Beijing and Shanghai are close to New York, Shenzhen far more than New York. At the same time, the second tier city housing price growth from negative i like air max shoes to positive, the three line is still lowspirited, obvious differentiation. rational factors: population structure and population flow. Behind the real estate market downturn, the overall structural differentiation, housing prices have driven firsttier cities some rational factors. 1 the change of population structure, determine the longterm downward. From the experience of Japan and the United States, is closely related to the real estate cycle and population structure. Chinese since 2011 the proportion of working age population will buy air max shoes online decrease in the degree of aging intensifies, which determines the real estate market will also trend downward. buy Cheap Nike Air Max LTD Womens Shoes online 2 the internal flow of the population, determine the structure of differentiation. On the one hand, the United States, Japan, Korea, Australia, Canada and other countries in the process of urbanization, the population of more than 1 million of the population of the city is rising, so the population to the big cities is the trend of the times. On the other hand, China’s resource distribution is more concentrated, the population will flow into the first tier cities, pushing up prices. irrational factors: currency excess and risk preference. Behind the glorious real estate there are some non rational factors. 1 excessive money supply, asset prices soaring. Japan’s currency over the 80’s led to a large number of flows into the stock market and the property market, the stock price, prices are soaring. U.S. monetary easing in early twentyfirst Century to double the stock market, prices for a long time to maintain more than 10% growth. China’s currency super hair leads to a line

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