China Clamping Down on Home Flippers

The Chinese government has announced their intention to increase the stock of affordable housing and tax homes sold within five years or less of purchase.
December 15, 2009, 1pm PST | Tim Halbur
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From Bloomberg News: "China is not likely to take 'heavy-handed policy measures' next year as 'any sharp correction in the property market may hamper overall economic growth,' Fitch Ratings wrote in a report today.

The policies announced yesterday to reduce property-price increases should aid economic growth because the government will boost the supply of homes rather than limit investment, Bank of America-Merrill Lynch economists Lu Ting and T.J. Bond said in an e-mailed note today."

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Published on Tuesday, December 15, 2009 in Bloomberg.com
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