Despite the prevailing opinion among many observers that China's property market is a bubble ready to pop, not everyone is convinced. Robert Shiller, a Yale University economist who warned of the 2008 US subprime housing meltdown five years before it happened, said last month that a similar crash could happen in China, but "I am not predicting it." Qiu Baoxing, vice minister of housing, said the country's property sector is unlikely to encounter a big crisis in the next 10 years.
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