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Shanghai imposes quota on home buyingPosted by Eric Mu on Friday, October 8, 2010 at 11:30 AM
Despite the government's tightening policies, property prices in China's megacities such as Beijing and Shanghai are still hovering around historical highs. Today's Beijing Times "debunked" the claim that the government's efforts to curb real estate prices had failed with a big headline announcing that during the past six days of National Day holiday, the number of home sales in Beijing declined by 80 percent than the prior six days. On a related subject, Shanghai's government also took a shot at real estate speculation by enacting a quota which allows each household in Shanghai (both residents and non-residents) to buy no more than one extra house in Shanghai aside from their current residences. The big image is about a foiled suicide attempt in Beijing yesterday in which man climbed onto a power tower around Yonghegong Lama Temple. The man was talked out of his jump attempt after three hours negotiation. Links and Sources
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