The looming threat of high home prices

Everybody is talking about housing prices, which have skyrocketed in recent years. In major cities such as Beijing and Shanghai, it is impossible for a white-collar worker to purchase a decent home even after saving all of his or her earnings over a lifetime.

Will the soaring of housing prices continue? Will measures by the central government, such as cracking down on the hoarding of land by real estate developers and raising the threshold for mortgage loans, stymie the price explosion and possibly lower rates? The biggest question, however, is whether the central government should take even more measures.

Amid all the opinions and suggestions about what to do about the real estate sector, the articles detailing Xia Bin's opinion are worth reading. They have been published in the book The Sober Head In the Crisis.