China’s bubbly property markets have not burst. Yet

Donde:http://www.economist.com/node/18836400

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BUBBLES are supposed to burst with an audible pop. But in the snap and crackle of the Chinese housing market, it is hard to hear anything clearly. On June 9th the Wall Street Journal put its ear to the ground and declared that “the great property bubble of China may be popping”.

In other countries, such as America, economists can rely on clear signals from credible price indices. In China the National Bureau of Statistics used to publish a price index spanning 70 cities. But that measure muted both the highs and lows of China’s housing market.
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If China’s property market is a bubble, it may end with a squeal as well as a pop.