‘Abnormal phenomenon’: property crash hits China’s New Jersey-like commuter hub

Buying property in the small town of Yanjiao was once the first choice for many white-collar workers who did not have a permit to buy a house in Beijing.Like New Jersey is to New York, Yanjiao is less than two hours to downtown Beijing across the Chaobai River to the west and offers competitive property prices with a reasonable commute.But many of those dreams have now been dashed with Yanjiao a microcosm of the downfall in China’s property sector, which has far-reaching implications on…

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