PHOTO: Empty shopping malls such as this one in Shanghai are not an uncommon sight in China. (Photo by Kosaku Mimura)
BEIJING — China’s obsession with getting on the property ladder is taking its toll on consumption, as inflated real estate prices burden homeowners with hefty mortgage repayments, leaving them little disposable income.
In a country where home ownership carries immense cultural significance, especially in the capital, the need to purchase a property separates those who spend freely from those who keep their purse strings tight.
READ MORE VIA AsiaNikkei.Com