Macroeconomic Regulation Not the Answer to Rocketing Housing Prices

JIN Bei ( 金 碚)
Deputy Director General, Institute of Industrial Economics, Chinese Academy of Social Sciences
Editor-in-chief of China Economist magazine
Editorial note:

Real estate is a prominent issue of worldwide concern and in particular, it has come under the spotlight of international attention after the debacle of
sub-prime mortgage bonds in the US. In China, real estate prices are climbing and have aroused heated debate in various circles. However, there is little rational thinking behind these controversies. According to the author, “despite heated debates, in most cases people don’t know what exactly they are arguing about”. Prof. Jin Bei’s article offers us food for thought on this matter.

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