According to Numbeo.com, the rent for the typical apartment in Beijing is $856 USD. Please note, this is still over 50% of the typical monthly income in Beijing. In the United States, (less the West Coast) most renters pay less than 25% of their income in rent.
Holy cherry-picking, Batman.
Nonetheless, the point is taken. The "search for contagion" is interesting; I've been reading Ben Bernanke's ironically titled The Courage to Act and his perspective on the whole housing meltdown boils down to "well if all these evil consumers had listened to us when we said this wasn't a problem we wouldn't have had to use their tax dollars to bail out AIG" while also arguing that the housing market wouldn't have dropped 25% if only those bastards on CNBC hadn't frothed up sentiment so much. Ben Bernanke is a douche, but I digress.
It occurred to me that an outsized "main street concern" is net neutrality. Most rank-and-file consumers think net neutrality exists to keep Comcast from throttling their Mother Jones subscription while streaming Leni Riefenstahl when in fact it lets this happen for free:
IF: 40% of stock market gains are tech and 25% alone are FAANG
AND: a cessation of net neutrality allows old-tech communications companies to charge higher carry costs to new media companies
I mean, "FAANG" are 5 of the top 6 users of internet bandwidth. The one out of 6 dentists that isn't a massive tech bubble stock?
Hulu (stylized as hulu /ˈhuːluː/) is an American entertainment company that provides over-the-top media services owned by Hulu LLC, a joint venture with The Walt Disney Company (through Disney Direct-to-Consumer and International) (30%), 21st Century Fox (30%), Comcast (through NBCUniversal) (30%), and AT&T (through WarnerMedia/Turner Broadcasting System) (10%). Through a proposed acquisition announced in December 2017, Disney will acquire Fox's partial ownership, giving it a majority stake if the deal closes.