A simplified calculation on this economist's statement:
The home asset per person is
100m^2 * 10,000 RMB/m^2 = 1 Million RMB.
A 3-people family will have assets of 3M RMB at fair market value. Then there must be a market where a buyer rent half of the family's home, say, at a yearly rent of 5-10% of the asset value (home life span of 30 years plus minimum inflation, the rent rate has to be this much to sustain the home valuation). Therefore every chinese family can generate rental-only income of 75-150K RMB per year, without doing any other work. This number is multiple times of Chinese GDP per capita (~$6000)! So China has a long way to go to increase (or inflate) its GDP!