China Real Estate Black Swan
¨To Nay-Sayers:
¨Prices: up cycle, some over-$,
but not worryingly high overall
¨Supply: some but macro-wise
not overly worrying
¨Measures: appear to turn
fiscal
¨Immaturity: yes but mature markets
are just as fickle-minded
¨Infrastructures: a matter of
time