economics

June 10, 2010

Beijing’s real estate

Filed under: Uncategorized — ktetaichinh @ 4:52 pm
Tags: , ,

My interlocutors remained confident about the regime’s technical ability to handle the economy. While Wall Street frets about an overheating China, most people here seemed sure that the government would be able to adjust to keep growth steady—as it has in the past. Worried about a frothy real-estate market in Beijing? Well, banks have been ordered to stop giving mortgages, and property taxes are set to be raised. Beijingers now cannot buy more than one apartment per family. Once the froth subsides the rules will, in all likelihood, be revoked.

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