After four years of talking (and not doing much) about cooling the
hot-money speculation that is the Chinese real-estate bubble (mirroring
the US equity market bubble since stock-ownership is low in China), the WSJ reports that the people are restless as the PBOC actually takes actions - and prices are falling. With new project prices down over 20%, 'homeowners' exclaim "return our hard-earned money" and "this is very unfair" - who could have seen this coming?
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