China Housing Myth
3 official China media outlets-Xinhua,CCTV and People’s daily have issued a warning on sky-high housing price on the same day. This highlights the concern China’ government shows for the mad housing market.
When will the bubble burst? Your guess is as good as mine. As Newton says: “I can calculate the motion of heavenly bodies, but not the madness of people”
Will the Chinese govt take more action to prick the bubble when in fact many of them benefits from it? However, we mustn’t forget that too high a price harms the stability of the government.
Watch out for the succession of the rulers in 2012.Things will get choppy as faction infighting intensifies.
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