New home prices went up like crazy in China for years until the government’s hopelessly over-subsidized and over-supported property led to a construction boom in the country that could house 3 billion people, more than twice of China’s population. It has been criticized even by Chinese officials in a rare public critique. Unfortunately the turmoils are far from over, the market is still under severe stress.
New home prices went up like crazy in China for years until the government’s hopelessly over-subsidized and over-supported property led to a construction boom in the country that could house 3 billion people, more than twice of China’s population. It has been criticized even by Chinese officials in a rare public critique. Unfortunately the turmoils are far from over, the market is still under severe stress.
[Edit typo.]