China takes measures to curb soaring housing prices

Aggressive steps were taken by China to restrain soaring housing prices and discourage real estate speculation.

"The new measures by the State Council included tighter lending standards and higher minimum down payments. They came only a week after banks were told to favor families buying their first homes and to cut back on lending to investors in expensive luxury villas and apartments."

Thanks to Feng Zhang

Full Story: Measures taken to curb soaring housing prices
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