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China homebuyers rush online to finance downpayments

Peer-to-peer lenders help buyers struggling to make a deposit after a tripling of home prices since 2000

Beijing

QIAN Kaishen and his wife almost gave up in August on buying a bigger home. As apartments at Shanghai Villa, a project they liked near the city's Hongqiao Airport, started selling, the money they had saved for the deposit was tied up in a 5 per cent-return investment.

Then