China's regulators are trying to stabilise the market, Sharp cuts to interest rates or easing up on property developers would sabotage deleveraging efforts. Relaxing heavy mortgage restrictions is an easier compromise, says ywchen1
China’s Ministry of Housing held a meeting on Jan. 20 where it laid out priorities for 2022. The ministry would need to focus on"increasing confidence, preventing risks, stabilizing growth, and maintaining stability," according to a meeting summary posted on its website. But it also reiterated the imperative to not use real estate as a short-term tool to stimulate the economy.
Average new home prices in China's 70 major cities declined 0.2% in December from a month earlier, according to Reuters calculations from data released by the National Bureau of Statistics on Jan. 15.Men ride bicycles past construction sites near the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly Song - RC2IXP9Z4Z4J
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