{"id":630243,"date":"2010-01-14T04:50:00","date_gmt":"2010-01-14T09:50:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/chinese-property-soars-fastest-rate-in-18-months-2010-1"},"modified":"2010-01-14T04:50:00","modified_gmt":"2010-01-14T09:50:00","slug":"chinese-property-prices-soars-at-fastest-rate-in-18-months-ignoring-government-attempts-to-cool-the-bubble","status":"publish","type":"post","link":"https:\/\/mereja.com\/index\/630243","title":{"rendered":"Chinese Property Prices Soars At Fastest Rate In 18 Months, Ignoring Government Attempts To Cool The Bubble"},"content":{"rendered":"

\"Chinese<\/p>\n

Despite Chinese government efforts to cool housing prices, their rise just accelerated at the fastest pace in 18 months during December.<\/p>\n

Bloomberg:<\/a> Residential and commercial real-estate prices in 70 cities rose 7.8 percent from a year earlier, the National Development and Reform Commission said on its Web site today. That topped a 5.7 percent gain in November.<\/p>\n

…<\/p>\n

“We only expect to see about a 5 percent increase in overall prices this year as we believe that would be acceptable to the Chinese government,” Raymond Cheng, a Hong Kong-based analyst at Credit Suisse AG, said before the data release. “They don’t want the bubble to burst.”<\/p>\n

The scariest idea supporting Chinese asset markets is the faith in the government to control the economy. Confidence in the government’s ability to keep the economy humming, property prices rom getting out of control, or support the stock market is the kind of problem that doesn’t show itself until it becomes enormous and disastrous.<\/p>\n

Don’t miss: Why Shanghai Real Estate Is The Most Obvious Bubble Ever — ><\/a><\/strong><\/p>\n

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