» 03/09/2011, 00.00
China to spend 1.3 trillion yuan to cool housing market
Housing prices are rising despite government attempts to rein in market speculation. Beijing announces plans to build 10 million new housing units for low-income families.
Crisis in China: 64 million empty apartments
If the housing bubble bursts, millions of middle income families lose their savings. Premier Wen tells the Economic Forum in Tianjin, that "stabilizing house prices" is the "essential" duty for every local government. But experts doubt that local governments will collaborate.
Chinese inflation remains high, economic growth slows
Inflation at 7.1% in June, while producer prices increase 8.8%, a more than 10-year record. China faces the dilemma of containing inflation without impairing production too seriously. Meanwhile, the worst energy crisis in years approaches.
Beijing, housing market collapses: down 50% in one year
In one month, prices have dropped by almost 27%. Nation prepares for burst of housing bubble worse than the United States. The Office of statistics demands punishment for those who published economic data over the Internet before their official publication.
80 percent of Vietnamese cannot afford to buy a home
Excessive prices, due in part to speculation, make purchasing impossible for most of the population. Profits on housing construction have reached 4-500 percent.
Shanghai adopts new measures against real estate speculation
Households are banned from purchasing third homes. Banks will be limited in the number of mortgages they can issue; taxes will be raised as well. Experts say such steps can only have short-term effects; affordable housing is needed for low-income families.
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