"Prices fell in a record 46 of 70 cities tracked by the government in April from a year earlier as officials pledged to keep restrictions on property purchases that have sapped buyer demand... The Housing Ministry said China will steadfastly continue curbs on the housing market and won’t flip-flop on its policies. This followed a pledge by the State Council, or Cabinet, last month to stick with existing property controls implemented over the past two years, where the government tightened down payments and mortgages, and imposed restrictions on the number of homes families can buy.
“The general price trend as a result of developers cutting prices and regulatory environment is continuing this month,” Chris Brooke, chief executive officer for Greater China at CBRE Group Inc., said in a Bloomberg Television interview from Beijing. “The objective is to remove the speculative element from the market."
Whining about government attempts to deflate the housing bubble aren't restricted to China.
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