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Housing Crisis in China

China has a one of the highest rates of home ownership in the world, around 90%, and with consumption remaining comparatively low Chinese families often pool resources to buy second and third homes, as tight currency controls have left housing a popular asset. While warnings of a Chinese property crash have failed to materialise China has become increasingly strict on on property regulations that are helping to control the possibility of the housing market becoming too volatile. Dozens of Chinese cities have already passed legislation to drive out property speculators, by capping prices set by developers and preventing real estate agents from setting excessively high second home prices. What will be the economic impact cost by the real estate bubble ?

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