decoy pretty much covered it. I have few questions for you though. Why would you buy back in if you think that the new measures are a bad thing? You acknowledge that the demand is so entirely extreme that entire cities are full of vacant second homes that have been bought by aggressive buyers, then you are against the government's new measures which are meant to keep home prices stable rather than dropping like a rock, on top of that you are buying back in at $4.20.. fairly trivial when everybody knows where this stock is heading... except by your reasoning, what's the point of buying back in at all if the new government measures and "ghost cities" are a bad thing?
I see China government policy changes to be a long term positive. At least they seem to be ahead of the game unlike our government was in the 2005 to 2007 housing price bubble. We would have been much better off if Fannie and Freddie had cut back on very loose loan eligibility requirements in 2005. Instead, they went the other way. Remember "liar loans" and 5% down loans, etc.? China has plenty of rural to urban migration still ahead. They will fill up the ghost cities withing a few years. Most of the units in those ghost towns were bought with cash so there is no panic at this point.