Here is an illustration of total housing stock to GDP ratio of three countries (Japan, Ireland, USA) that went through a “housing bubble & bust” cycle in a 30-year time frame… plus one country (China) that might experience it soon.
In China, the value of the housing stock is set to exceed 350 per cent of GDP in 2011, the same level as Japan at the height of its real estate bubble.

Readers, write your own conclusions…

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