China's sky-high home prices sustainable, say Harvard scholars
Prices can be maintained, provided the govt acts to sharply curtail new supply
Beijing
CHINA'S stratospheric housing prices can be maintained because of robust demand, provided the government radically curtails new supply, according to four Harvard University scholars. The economic downside of such price stability: huge hits to urbanisation, productivity and employment.
Prices are resilient in part because buyers aren't highly indebted, they invest for the long r…
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