[seanmcdirmid]

Speculation is rampant and a people I know are leveraged on multiple properties, lying to banks to get loans.

The risk of a crisis is very real; even if the risk of default is low, the risk of the marketing seizing up because no one wants to buy at a price sellers are willing to sell at is incredibly real.

Rents in Beijing are pretty cheap now, getting cheaper actually, while housing prices remain rediculously high. Heck, my apartment complex is prime but only about 60% occupied (the other units bought but being held for speculation alone). Something has got to give.