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Big news out from China Daily. We're not exactly sure what it means, except that the central government is desperate to slam the brakes on the real estate market and looking to call a time out:
Sale of residential land temporarily halted
BEIJING - The Ministry of Land and Resources has ordered a temporary ban on the sale of land for housing in a renewed measure to ease soaring real estate prices. Yun Xiaosu, vice-minister of land and resources, said local authorities should not sell land for residential purposes until this year's housing land supply plan is released in early April. "Residential land supply will increase and low-income housing projects will top local governments' agendas," Yun said during a video-conference on Monday
Originally posted by trueperspective
Wait... if they stopped the sale of homes, meaning less homes on the market, Wouldn't that RAISE demand and therefore raise the prices of current homes on the market?? Am I reading this wrong or does this seem backwards to anyone else