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China’s ’sacred responsibility’ to prick property bubble

Posted on 04 January 2012

What is affordable housing? One definition is that the median house price should be in proportion to the median household income. If 50% of families (the top 50%) can afford to buy an average home, then the market is perfectly balanced.
But we don’t live in a perfect world. Governments play a critical role in real-estate markets, often in response to public demand for housing to be, well, affordable (see Fannie, Freddie). This doesn’t always end well, to put it mildly………………………………………..Full Article: Source


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