Home / World

As house prices rise, 'wild' theories thrive

By Bai Ping | China Daily | Updated: 2013-06-27 06:49

Despite growing public resentment, the frothy Chinese real estate market has never been short of heavyweight academic supporters who often pass controversial remarks that touch the nation's nerves.

Recently, a professor of business from the prestigious Peking University openly defended high housing prices in Chinese cities, because he reckoned more taxes from the sales of luxury houses could be used to subsidize public housing projects.

Poor people should never unrealistically expect to buy homes or our cities will become shantytowns, he told the media on the sidelines of a forum on high-end properties early this month. Instead, the luxury houses should be allowed to be sold for record prices so that the government can get money to build welfare housing for the less fortunate, he said.

As house prices rise, 'wild' theories thrive

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349