China Creates Housing Slaves Reaching for Property

China Creates Housing Slaves Reaching for Property

Nelson Ching/Bloomberg

A woman carrying produce for sale walks past newly built residential housing in Changsha, Hunan Province. Chinese homebuyers typically use 30 percent to 50 percent of their monthly incomes to repay mortgages, said Wu Hao, a manager at the loan brokerage of Bacic & 5i5j Group.