China's but when Philippines'?

China's but when Philippines'?

Sorry to say but the bubble may be coming to the Philippines.  It is being talked about among investors.  There are differences but many issues that are ignored as in China.

60 Minutes' Lesley Stahl stated in the report below, "Here's a number I saw. A typical apartment in Shanghai costs about 45 times the average resident's annual salary."  I was told the average resident's salary in the Philippines is ₱150,000.  An average new overpriced condo in Metro Manila can be ₱6,000,000 which is 40 times the average salary.

China's real estate bubble

China's economy has become the second largest in the world, but its rapid growth may have created the largest housing bubble in history

 

http://www.cbsnews.com/videos/chinas-real-estate-bubble-3

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