过去三十多年来,对硬件和软件两方面基础设施建设的投资,或许可以更好地解释中国房地产市场、特别是中心城市房价的超速上涨。如同任何持续牛市一样,已经火爆了近20年的中国住宅市场也终会有进入萧条期的那一天。但准确预言崩盘日并非易事。过去十几年中,唱空中国房价的某些专家们不断 Over the past three decades, investing in both hardware and software infrastructure construction may better explain the rapid growth of housing prices in China, especially in central cities. Like any ongoing bull market, the Chinese housing market, which has been hot for almost 20 years, will eventually have the day of depression. But accurately predict the crash day is not easy. In the past ten years, some experts who sing empty China house prices constantly