[photopress:housing_prices_China.jpg,full,alignright]This is called on other, lesser, sites as stating the bleeding obvious. China’s top economic planner has released a report emphasizing the upward pressure for the country’s housing prices.
Quite so. Never have thought of it if it had not been spelled out.
Analysts (remember they were the ones who did NOT forecast the sub-prime slump in the United States) said this might spell further macro-control to prevent the sector overheating.
Despite a minor slow-down in price increases over the first quarter, a National Development and Reform Commission (NDRC) said prices were likely to rebound after a period of adjustment in some cities while overall housing prices nationwide would continue to increase on a modest scale.
There are few who would argue with that.
At the high-profile Boao Forum for Asia earlier this month in Hainan Province, economists and executives recognized 2008 as ‘nothing but a quiet year’ which is probably a polite way of saying we are not certain what will happen.
Hong Yuan Securities real estate analyst Yang Guohua agreed with the official assessment, calling the report ‘fairly objective and credible’.
Despite the snow disruption earlier this year and the declining trade surplus, the Chinese economy still grew 10.6% in the first quarter, a slight decline from 11.7% in the same period last year.
Source: China View