An interesting short piece on the relationship between urbanization and economic growth, or vice versa.
In the case of China, which is the main topic of the article, it gets me thinking mostly about mobility.
Perhaps reforming hukou to allow rural residents to freely adopt urban residence in China would be a way to open up a source of demand for real estate, effectively creating a situation where these residents and perhaps even their families would gain improved access to social services in the same stroke as they could bolster demand in a potentially falling property market. Integration into urban social security systems would presumably also increase the base of resources upon which future social programs were covered. Transferability to rural areas remains an important question though: would they be able to collect urban social security in their home village after paying in at urban rates?