In 19 98, when china created a nation wide housing market, after tightly restricting private sales for decades, only a third of its people lived in towns and cities. Now almost two thirds do, increasing the urban population by 480 million. But about 90 % of urban residents own those homes, worth more than 50 trillion dollars according to goldman sak. This is the wave evergrand road. Its founder and chairman, hi kayan, was born into grinding poverty in the central province of henan in 19 58. He found his ticket out by becoming one of a tiny number of rural students to pass the university entrance exam,. going on to study metallurgy. After working as an