China Shuts Down the Bubble
Business Insider is reporting that China is indefinitely cockblocking the bubble from here on out, or at least until they decide what to do about it. China out of control? Nah.
BEIJING - The Ministry of Land and Resources has ordered a temporary ban on the sale of land for housing in a renewed measure to ease soaring real estate prices.
Yun Xiaosu, vice-minister of land and resources, said local authorities should not sell land for residential purposes until this year's housing land supply plan is released in early April.
"Residential land supply will increase and low-income housing projects will top local governments' agendas," Yun said during a video-conference on Monday.
In Desperate Move To Cool The Bubble, China Just Halted The Sale Of All Land! (Business Insider)