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China home prices must fall 30pct to reach ‘reasonable’ level

Posted on 30 January 2012

China’s property prices need to decline 30 percent to reach a “reasonable” level, according to He Keng, a deputy director of the Financial and Economic Affairs Committee of the National People’s Congress.
Housing prices will be at a “reasonable” level when they are equivalent to about six years of salary for a family, the senior lawmaker said, according to the transcript of an interview with China National Radio………………………………………..Full Article: Source


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