Beijing real estate floats like a bubble on a bubble

Despite China's efforts to curb real estate speculation, housing prices continue to rise, encouraging even more construction and a frenzy of public stock offerings by big real estate companies. While the US endures a mortgage crisis, investors in Chinese real estate are celebrating and pushing the value of housing and housing shares to new heights. SOHO China's initial public offering on Monday raised nearly $US1.7 billion, or as much as Google raised in its 2004 public stock offering in the US.