China Housing Boom’s Spread to Smaller Cities Poses Dilemma

China Housing Boom’s Spread to Smaller Cities Poses Dilemma

Qilai Shen/Bloomberg

China’s investment in residential property accounted for 6.1 percent of gross domestic product last year, the same level as the record in the U.S. in 2005 preceding the subprime crisis there, according to Citigroup Inc.