You may have heard that a housing bubble is popping in China. Not so, says China Daily. The newspaper says that prices are still rising briskly—and that’s not a good thing. The higher prices get, the farther they’ll have to fall. To quote:
“The November figure indicates that the momentum of property price hikes in major cities remains strong.
“Only when the government substantially increases the supply of affordable homes for low-income groups and provides more land lots for development can the imbalance of demand and supply in the property market be addressed.”
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.