04.01.2012 - China's 'sacred responsibility' to prick property bubble
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 donít 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 doesnít always end well, to put it mildly...............................................Full Article: Source
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