some cities easing lending for first time buyers (barrons)
from Barrons... We have found at least six cities (Tongling, Ningbo, Tianjin Binhai New Town, Nanning, Hangzhou Xiaoshan District, and Wuxi) that have announced policy relaxation on the property sector since end-April (source: local government websites and Xinhua News).
Policy relaxation mainly focused on HPR (definition of “first home”), deed tax, Hukou registration, mortgage downpayment, and developers’ cash flows.
Thanks for the suggestion.... interesting macro ideas / impact of China moving to a consumer driven (vs export driven) economy... Liked this snippet a reviewer pulled...
Roach says the good news is that China has realized the risks, and it’s making an effort to redirect its economy toward a consumerist direction. He stresses three elements that are essential to the success of China’s economic transition—more job growth, higher wages through urbanization and fixing the social safety net. He also disputes the argument that China’s debt problems and high housing prices are serious enough to drag the entire economy down.