Ooops! Sorry… Wrong country! (but, curiously, correct policy) -vreaa
This quote from Jiang Weixin, minister for Housing and Urban-Rural Development, China, as quoted at CNBC 5 Jan 2010 11:30 pm, in an article titled ‘China should tighten credit for second homes’ –
“We should scrap or adjust local property policies launched last year that no longer comply with current macroeconomic goals or with the goal of curbing excessively fast growth in property prices”
Article excerpt: China’s housing ministry has called for stricter rules on credit issuance for second home buyers to curb speculation in the property market. The ministry has also pledged to increase the supply of affordable homes, another part of the government’s campaign to tame price rises in the sizzling property sector.