(Bloomberg) -- China’s ruling Communist Party pledged to accelerate a new housing model that emphasizes renting and ramps up affordable homes, following a record property slump. Most Read from BloombergBiden Exit Puts Trump Trade in Doubt as Election Gets Re-SetJoe Biden Bows to Democrats Who Wanted Him Out, Upending US PoliticsBiden Exits Race, Endorses Harris as She Shores Up SupportBiden Is Out: What’s Next for Democrats, ExplainedA Brief History of Kamala Harris and Her PoliticsThe party’s C
  • Sodium_nitride@lemmygrad.ml
    ·
    4 months ago

    It will also make it easier for some cities to remove or ease restrictions on the number of properties an individual or household may own.

    Not a big fan of this move. This will make speculating on houses easier and more attractive. Which goes against the stated shift in housing policy.

    I know home equity makes a big part of Chinese households' wealth, and thus confidence to purchase and drive the economy, but that shows a structural weakness that had embedded itself into the Chinese economy due to market reforms.

    Hopefully, the other measures will counteract any negative influence from this crisis.