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Is China’s housing market heading for a crash?

Posted on 23 December 2010

From Guardian: It’s not a surprise that China is worried about a potential housing bubble, the dangers of which are so vividly presented in satellite images of its so-called “ghost towns”. House prices rose by 7.7% in November, marking 18 months of gains.
This is despite the government prohibiting mortgages for third homes and announcing plans to introduce a property tax. In fact, sales volume jumped 14.5% from a year earlier. Housing ownership is traditionally favoured by the Chinese, but even more so at the moment since it was only a decade ago that housing was privatised. The housing market has certainly taken off since then……………………………………….Full Article: Source

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