Construction worker riding home on his bicycle when real estate agents hawk apartments on the street corner.
The real estate market in Shanghai is cooling off: sales have declined for multiple consecutive weeks and it has resulted in an increase in the number of agents hawking apartments outside luxury apartment compounds. A trip to the grocery store requires you to run the gauntlet of real estate agents assaulting you with listing flyers. One woman was banging on the window of cars stopped at the traffic light, shouting at the passenger to lower the window. Be careful out there.
Construction along the Huangpu River in Shanghai
Construction of high-rise office buildings and luxury apartment complexes continues unabated in China’s cities. In the 5 months that we have lived on the Pudong side of the river we’ve witnessed five buildings rise out of the ground, along the riverfront; this construction site is home to the sixth. The real estate bubble in China appears to be rising faster and higher than any I witnessed in the USA; not sure what it will look like when it bursts.