China's Housing Middle Class


Book Description

Home ownership plays a significant role in locating the middle class in most western societies, associated with market, consumerism, democracy and “people like us”, the significant features of the middle class for any society. In China, private home ownership was not the norm from 1949, when the Chinese Communist Party took power, until the 1990s. In the past three decades, however, there has been a fast growing housing consumption and private homeowners have become the most significantly changing aspect of Chinese urban life. In particular, the rise of gated communities has become a predominant feature of the urban landscape. Similar to their western counterparts, the gated communities in China exemplify “high status” symbols with enclosed and restricted residential areas, exclusive community parks and recreational facilities, and professional management and security services. But different from western societies where gated communities usually represent luxurious lifestyles only limited to a small group of people, in urban China gated communities have become one major form of supply in the housing market and one of the most popular and desirable choices for homebuyers. Private home ownership and residency in gated communities, altogether characterize the most significant aspect of comfort living and distinct lifestyles of China’s new middle classes who have successfully got ahead in the socialist market economy. This book examines the formation of “China’s housing middle class”. It develops a theoretical argument about, and provides empirical evidence of the heterogeneity of China’s new middle class, which underlines the relations between the state, market and life chances under a socialist market economy. As such it will be of huge interest to students and scholars of Chinese society, sociology and politics.




China's Emerging Middle Class


Book Description

Decades ago, there was no distinct middle class in the People's Republic of China. Any meaningful discussion of China's economy, politics, or society must take into account the rapid emergence and explosive growth of the Chinese middle class. This book details the origins and characteristics of this dramatic change.




In Search of Paradise


Book Description

A new revolution in homeownership and living has been sweeping the booming cities of China. This time the main actors on the social stage are not peasants, migrants, or working-class proletariats but middle-class professionals and entrepreneurs in search of a private paradise in a society now dominated by consumerism. No longer seeking happiness and fulfillment through collective sacrifice and socialist ideals, they hope to find material comfort and social distinction in newly constructed gated communities. This quest for the good life is profoundly transforming the physical and social landscapes of urban China. Li Zhang, who is from Kunming, the capital of Yunnan province, turns a keen ethnographic eye on her hometown. She combines her analysis of larger political and social issues with fine-grained details about the profound spatial, cultural, and political effects of the shift in the way Chinese urban residents live their lives and think about themselves. In Search of Paradise is a deeply informed account of how the rise of private homeownership is reconfiguring urban space, class subjects, gender selfhood, and ways of life in the reform era. New, seemingly individualistic lifestyles mark a dramatic move away from yearning for a social utopia under Maoist socialism. Yet the privatization of property and urban living have engendered a simultaneous movement of public engagement among homeowners as they confront the encroaching power of the developers. This double movement of privatized living and public sphere activism, Zhang finds, is a distinctive feature of the cultural politics of the middle classes in contemporary China. Theoretically sophisticated and highly accessible, Zhang's account will appeal not only to those interested in China but also to anyone interested in spatial politics, middle-class culture, and postsocialist governing in a globalizing world.




International Housing Market Experience and Implications for China


Book Description

Recent rapid housing market expansion in China is presenting new challenges for policy makers, planners, business people, and citizens. Now that housing in middle-income China is driven by consumer choices and is no longer dominated by state policy decisions, housing policy issues in Chinese cities are becoming increasingly similar to those encountered in other global housing markets. With soaring prices and imbalances in housing supply favoring high income groups and housing demand driven by rising inequality in household incomes, many middle and lower-income households face worsening choices in terms of the quality and location of their housing as well as greater financial difficulties, which together can have negative implications for standards of public health. This book examines the impact of these changes on the general population, as well as on aspiring homeowners and developers. The contributors look at the effect on the widening of wealth gaps, slower economic growth, and threats to political and social stability. Though focusing on China, the editors also present discussions of specific policy design challenges encountered in Australia, Japan, Korea, the Netherlands, the Nordic countries, Singapore, Taiwan, the UK, and the US. This book would be of interest to housing policy makers, as well as academics who are studying the social and political effects of the Chinese housing market.




In Search of Paradise


Book Description

A new revolution in homeownership and living has been sweeping the booming cities of China. This time the main actors on the social stage are not peasants, migrants, or working-class proletariats but middle-class professionals and entrepreneurs in search of a private paradise in a society now dominated by consumerism. No longer seeking happiness and fulfillment through collective sacrifice and socialist ideals, they hope to find material comfort and social distinction in newly constructed gated communities. This quest for the good life is profoundly transforming the physical and social landscapes of urban China. Li Zhang, who is from Kunming, the capital of Yunnan province, turns a keen ethnographic eye on her hometown. She combines her analysis of larger political and social issues with fine-grained details about the profound spatial, cultural, and political effects of the shift in the way Chinese urban residents live their lives and think about themselves. In Search of Paradise is a deeply informed account of how the rise of private homeownership is reconfiguring urban space, class subjects, gender selfhood, and ways of life in the reform era. New, seemingly individualistic lifestyles mark a dramatic move away from yearning for a social utopia under Maoist socialism. Yet the privatization of property and urban living have engendered a simultaneous movement of public engagement among homeowners as they confront the encroaching power of the developers. This double movement of privatized living and public sphere activism, Zhang finds, is a distinctive feature of the cultural politics of the middle classes in contemporary China. Theoretically sophisticated and highly accessible, Zhang's account will appeal not only to those interested in China but also to anyone interested in spatial politics, middle-class culture, and postsocialist governing in a globalizing world.




China’s Middle Class


Book Description

This book is a collection of empirical studies on China’s middle class from top-ranking Chinese sociologists, discussing this newly identified social stratum with regard to the basic concept and scope of the group, its functions, formation, identity, consumption, behavior patterns and value system. As the first study of its kind, the analysis of most chapters is based on a rich body of empirical data gathered from rigorous large-scale surveys designed specifically for the Chinese middle class across megacities including Beijing, Shanghai and Guangzhou. The book traces the complex and dynamic formation process of China’s middle class from different perspectives while dealing with issues of social concern such as “rigid social stratification”. The findings shed light on the underlying logic of structural change in Chinese society over several recent decades, with significant policy implications. The book will attract sociologists, students and policymakers interested in social structure, social transformation and middle-income groups in China.




Stabilizing China’s Housing Market


Book Description

The sharp rise of house prices in China’s Tier-1 cities has fostered a great deal of commentary about the possibility of bubbles forming there. However, China’s unique housing market characteristics make it difficult to assess the macroeconomic severity of bursting bubbles, even if they exist. These include the setting of land supply and prices by the government, among many others. The presence of overbuilt “ghost cities” greatly complicates the ability of traditional macroeconomic policies to address these concerns. This paper looks at proposals to shore up the mortgage underwriting and legal infrastructure to help China withstand the impact of falling prices, should this occur.




Middle Class China


Book Description

A general expectation has developed that ChinaÕs middle class will generate not only social but also political change. This expectation often overlooks the reality that there is no single Chinese middle class with a common identity or will to action. This timely volume examines the behaviour and identity of the different elements of ChinaÕs middle class Ð entrepreneurs, managers, and professionals Ð in order to understand their centrality to the wider processes of social and political change in China. The expert contributors seek to identify the social space occupied by the Chinese middle class rather than identifying social backgrounds and attitudes. In so doing they explore socio-political issues, the development of a consumer society, relationships between gender and class in the workplace, home-ownership and the appearance of gated communities, and the political interaction between the Party-state and the entrepreneurial middle classes and their impact on the new institutional economics. Providing a more nuanced understanding of the structure of the middle class in China and identifying dynamic elements in their behaviour, this unique book will prove a fascinating and thought provoking read for academics, students and researchers with an interest in Asian studies and public policy.




Housing Affordability and Housing Policy in Urban China


Book Description

This book provides a comprehensive analysis of housing affordability under the economic reforms and social transformations in urban China. It also offers an overall review of the current government measures on the housing market and affordable housing policies in China. By introducing a dynamic affordability approach and residual income approach, the book allows us to capture the size of the affordability gap more accurately, to better identify policy targets, and to assess the effectiveness of current public policy. The unique database on urban household surveys and regional information on affordable housing projects serve to strengthen the analysis. The book offers theoretical and empirical insights for in-depth affordability studies and helps readers to understand the social impacts of market reforms and the role of government on the Chinese housing market.




Understanding Residential Real Estate in China


Book Description

China’s residential real estate sector plays an important role in the economy and has been a key driver of growth. Since 2014 the sector has softened visibly, reflecting overbuilding across many cities. An orderly adjustment of the sector is welcome. The key questions are how severe the adjustment will be and how long it will last. This paper uses various datasets, an analytical framework to estimate demand and supply conditions, and develops a number of scenarios to determine the oversupply both at the national level and by city tiers. It highlights that the adjustment will be a multiyear process with adverse implications for investment and growth. Smaller cities, as well as those in the Northeast region, face more challenging demand-supply dynamics. The key will be to allow the adjustment to take place, while avoiding a too sharp of an economic slowdown.