| Johnny,
I don't think anyone was being critical of the government here. In fact, I believe that everyone is saying that the government has done the right thing by putting `the brakes on' a real estate market that was beginning to spiral out of control. What the government has done is tried to stop the real estate prices moving out of reach of the average person, for this they should be congratulated! Living in Sydney Australia, I can tell you how hard it is for people when property prices run up uncontrolled. Here we have seen property prices double in the last 3 - 5 years with no change in the income of the average home. This has meant that home ownership is just a dream now for many people. The Chinese government is trying to prevent that from happening, and they are starting to achieve their goal. The only thing they really need to watch out for is that investors do not get driven away, otherwise in the long term there will be a shortage of rental properties, which will drive up rental prices. This can only be bad, because there will always be people who rent - out of choice or necessity. |
When the House Prices Goes Down