Im pretty sure that is yearly disposable income, but yes, it is much better than where I live currently. That means about 7000 yuan a month, and a cheap apartment is 2000-3000 yuan a month. My apartment takes up more than that by a long shot (average income for local area is about 35k USD, apartment costs 29k USD a year, and this is one of the cheapest I could find). Should be noted that 82% of the Shanghai population owns a home (up from 36% in 1997), so these sorts of public housing units are almost certainly designed to be a temporary measure for poorer migrants that are new to the city and have employment lined up. And considering that the home ownership rate is going up, whatever the CPC is doing is working.
Im pretty sure that is yearly disposable income, but yes, it is much better than where I live currently. That means about 7000 yuan a month, and a cheap apartment is 2000-3000 yuan a month. My apartment takes up more than that by a long shot (average income for local area is about 35k USD, apartment costs 29k USD a year, and this is one of the cheapest I could find). Should be noted that 82% of the Shanghai population owns a home (up from 36% in 1997), so these sorts of public housing units are almost certainly designed to be a temporary measure for poorer migrants that are new to the city and have employment lined up. And considering that the home ownership rate is going up, whatever the CPC is doing is working.