Alan Shuminer lives on two acres of land in a house with a current list price of $3.3 million in Miami — and he only pays $2,600 a month. He is a home manager for Showhomes, a home staging company. Showhomes hide caption

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Apartments are still under construction in Wuxi, outside Shanghai, despite a glut in the market and almost no local demand. This development is to have 2,500 residential units. PR Newswire Via AP hide caption

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China's Booming Real Estate Market Finally Begins To Slide

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Apartments, apartments, everywhere; nor any flat to buy: Survey after survey reveals that young Chinese are stressed out — and skyrocketing property prices are one of the main reasons. Zhuo Yang/NPR hide caption

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Parking spaces behind 298 Commonwealth Avenue in Boston are seen Friday. The two open spaces at right, front and back, were sold at auction for $560,000. Michael Dwyer/AP hide caption

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A screengrab of a satellite image of Cordoba, Spain, in 2004 (left) and 2011. Satellite images via Google Earth and Nación Rotonda hide caption

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How much is it worth?

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The Land Boom

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