China’s real estate mania has caused astronomical housing price growth of over 600% in key cities such as Shanghai, Beijing and Shenzhen over the past few decades. From speculation of a bursting property bubble to mysterious ghost towns, the housing market in China is watched worldwide. The Chinese government has taken radical steps to cool the market through containing speculative housing demand and stabilizing prices.
Have the policies been successful? If not, how would a housing crisis in the world’s most populous country pan out?
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