China Is Orchestrating A 30% Crash In The Property Market

Wednesday, February 9, 2011
By Paul Martin

by Tyler Durden
ZeroHedge.com
02/09/2011

Something curious was noted this morning on CNBC Europe: namely a reference to an article in the Shanghai Financial News, according to which China is quietly (or not so quietly) trying to orchestrate a 30% drop in real estate prices, in the form of a “Thunder attack” which combines increased purchase costs, property taxes as well as the rise in interest rates. If proven true, this is a major flashing red sign of just how out of control inflation, especially property and real estate, is in China, and that future CPI readings (not the official Politburo number, but that which people actually have to live with) will be getting progressively worse. Also, for the government to step in with such a drastic measure, it must mean that the discontent on the ground must be approaching a fever pitch.

From Shanghai Daily News (apologies for the Google translation from simplified Han – we ask any native readers to provide a better translation):

The Rest…HERE

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