China’s housing price curve

a graph I’ve been looking for quite sometime.

 

i believe all of you have heard how the housing price is doubling in Beijing and SHanghai in the past year, 2009.  I know such abnormal behavior is either wave 3, the strongest trend wave or wave 5, the final push.  it sees that the later more appropriate in the chart below…

 

However, you can hardly tell how the wave plays out, extended or not… the key info from the chart is that once the push up is over, it’s going to be the top for a long long time……