Meanwhile in China ...

Posted by: Peter Coy on May 30, 2006

The Chinese government is alarmed about speculation in the housing market and is trying to dampen it.

Here’s an article about it from the English edition of the People’s Daily.

Reader Comments

Troy

August 12, 2006 3:38 PM

China’s Real Estate Housing Dilemma
In roughly a decade or so, urban china has evolved from having a heavily subsidized system of government-owned housing to a free-wheeling, market-driven one with all the opportunities and inequalities that come with it.

The ever-morphing commercial skylines of Beijing, Shanghai, and Shenzhen; the stories of buy-and-flip property speculators; the sometimes garish consumer culture of chinas urban monied elite -- no doubt about it, the new opiate of the masses on the mainland is real estate. As economic reforms deepened in the mid-1990s, both Chinese President Jiang Zemin and Premier Zhu Rongji started to dismantle that system, which was pretty much history by 1998. A more market-driven china needed labor mobility, a dynamic private sector, and a housing market that better reflected demand. "To get rich is glorious" became the new mantra.

http://www.turks.us/article.php?story=20060809162548867&query=china

Troy

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BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

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