24.10.2008 - China's housing market: What goes up
From economist.com: Homeowners in a middle-class district in northern Beijing are angry. The developer of their block of flats has slashed the prices of new flats now on sale. China’s housing market, barely existent a decade ago, is undergoing its first big downturn after years of boom. The earlier buyers want their money back. For several years China’s leaders have been trying gently to deflate a housing-market bubble pumped up by huge demand from a fast-growing middle class with few other investment opportunities. In the past few months their efforts have begun to pay off..... Full Article: Source
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