China's Mortgage 'Bailout'

Officials in China are moving to implement a handful of strategies to combat the housing slump, including tax breaks, smaller down-payment requirements and lower loan rates for first-time buyers.

1 minute read

October 27, 2008, 8:00 AM PDT

By Tim Halbur


"Just a year ago, enthusiasm for housing knew few bounds, as people all around China lined up outside new housing developments for the first chance to buy. But worries grew that a bubble was developing, and the government stepped in with measures aimed at deterring speculative buyers and taking some of the froth out of housing prices. Those seemed to be working as intended -- until the global financial crisis frightened consumers and sucked away much of the optimism about China's prospects.

Housing sales, which at one point last year were rising by more than 50% from a year earlier, softened early this year, and are now plunging. Floor space sold dropped 36% in August. Average nationwide housing prices have fallen month-on-month in both August and September, and growth in new construction is slowing sharply as developers, squeezed for cash, have to cut back.

"Now everybody believes the price will go down. And the developers don't want to sell at a lower price. Nobody wants to sell, and nobody wants to buy," says William Xin, chief financial officer of China Housing & Land Development Inc., a developer in the western city of Xi'an."

Friday, October 24, 2008 in The Wall St. Journal

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Cover CM Credits, Earn Certificates, Push Your Career Forward

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

June 25, 2025 - Diana Ionescu

Map of Western U.S. indicating public lands that would be for sale under a Senate plan in yellow and green.

Map: Where Senate Republicans Want to Sell Your Public Lands

For public land advocates, the Senate Republicans’ proposal to sell millions of acres of public land in the West is “the biggest fight of their careers.”

June 19, 2025 - Outdoor Life

Person wearing mask walking through temporary outdoor dining setup lined with bistro lights at dusk in New York City.

Restaurant Patios Were a Pandemic Win — Why Were They so Hard to Keep?

Social distancing requirements and changes in travel patterns prompted cities to pilot new uses for street and sidewalk space. Then it got complicated.

June 19, 2025 - Diana Ionescu

Close-up of full beer glass with purple train-themed design sitting on bar between two frosty tall cans.

Platform Pilsner: Vancouver Transit Agency Releases... a Beer?

TransLink will receive a portion of every sale of the four-pack.

6 hours ago - Cities Today

Vintage red Toronto streetcar passing in front of Rogers Arena in Toronto, Canada.

Toronto Weighs Cheaper Transit, Parking Hikes for Major Events

Special event rates would take effect during large festivals, sports games and concerts to ‘discourage driving, manage congestion and free up space for transit.”

7 hours ago - blogTO

Map of Berlin with ring roads in green and red.

Berlin to Consider Car-Free Zone Larger Than Manhattan

The area bound by the 22-mile Ringbahn would still allow 12 uses of a private automobile per year per person, and several other exemptions.

June 30 - Streetsblog USA

Urban Design for Planners 1: Software Tools

This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.

Planning for Universal Design

Learn the tools for implementing Universal Design in planning regulations.