84% of Beijing Residents' Wealth is in Their House

Here’s why a China housing crash would crush the middle class—and why that matters
Most of that new middle-class wealth—at least on paper—comes from soaring home values, especially in relatively wealthier cities. For instance, 83.8% of the total assets (link in Chinese) of average Beijing residents came from their homes, compared with the national urban average of 66%.

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