It’s a catchy propoganda song, and this guy agrees (via Club for Growth) – he says the U.S. is more Communist than China. I alluded to this the other day while frothing at the psuedo-civil-libertarian mouth. It’s not really the case. Regardless, he specifically mentions ‘China’s free market in housing.’ This is a teachable moment, because Chinese property law is fascinating:

No one actually owns land here – they lease it for a period of time from the central government (usually around 40 years). It’s also impossible to sell land that you have leased – selling would imply ownership. You can sub-rent it to someone else, for the period of time remaining on your lease. The system works – sort of. They even have their very own real estate bubble. 

But at least they are up front about the ‘usage right’ aspect – which is all that a property right is, stripped of the liberal nonsense. What Rogers should have said was something about meaningless illusory pretense.