Every day I drive past this sign on the Yan’an elevated highway. It reminds me of the aspirations of young working Chinese people. The Chinese Dream, the American Dream, the Australian Dream…… they’re really more similar than different – get ahead, get an education, buy your own home. In Shanghai though, property prices have been on the up and up for some time, with average house prices increasing by a staggering 25% in the last year. So the Shanghai Dream is getting further and further away for most. You can buy an apartment in London, Sydney or New York more cheaply than one in Shanghai.
How does anyone afford it?