Realty owners should honor sales contracts

RISING REALTY PRICES PROMPTED SEVERAL PROPERTY OWNERS in Shenzhen, South China's Guangdong province, to nullify the sales contracts they had already signed with buyers. After a local court directed the realty owners to honor the contracts, they organized a protest on Aug 22 that turned violent. Police controlled the violence and put five of the demonstrators, including hired "protesters", in judicial custody. Beijing News comments:

By organizing a violent "protest" on the court premises, the suspects have challenged the judiciary so they deserve to be punished.

However, the case also teaches us a lesson. When realty prices rise sharply, some people will always regret signing sales contracts earlier; often property owners try to tear up the contracts they have already signed.