| It is the banks which are the biggest player on the field in the capital intensive real estate industry. The Government Assessor's report that the average price of a four-room apartment rose by 5% in 2012, coming on top of the Central Bureau of Statistics report that prices rose by 6.7% last year, once again demonstrates the helplessness of policy-makers.
The banks also pump out cheap mortgages for us, at least so long as the interest rate stays low, in order to feed the housing demand monster. The banks also increase, limit, delay, and invent fees of various kinds for developers and contractors in order to control the supply and control of land purchases for new homes..........................................Full Article: Source
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