This picture taken today shows a young and enthusiastic real estate agent standing at a cross roads in a Shanghai suburb. He his holding a hand-written sign advertising a US$1 million house nearby.
Contrast this with the US or UK, where properties of this value are advertised in prestige magazines and viewings are carefully selected.
With property prices in China's key cities still massively over valued compared to global norms, the value perception is such that a US$1 million house does not warrant any special marketing approach, other than a guy with a sign on the street.
One has to question how sustainable these valuations really are, and whether the Chinese ten year property bubble really is about to finally deflate?
If so, the guy on the street might have to start selling something else - and so will his many friends!
