Buyers burned by price-cooling measures

Although new policies to curb Shanghai's overheated housing market are already having an impact, many potential purchasers say the amended regulations have pushed homes out of their price range. Wang Ying reports from Shanghai.

Wang Huiyao and her husband were so eager to buy a home in Shanghai that they cashed in all their investments and paid 60,000 yuan ($9,240) to be given priority in the line for a new development that would be launched on March 26.

After all their meticulous planning and preparation, it appeared that they were finally going to own a home in the city after five years of searching.