Mar 31, 2012 02:28 PM

No-Budge Lock for Real Estate Market Controls


City governments tried lighting fires under frigid real estate markets in February but later stood by helplessly and watched the central government throw cold water on their plans.

In Shanghai, for example, the Municipal Housing Management Administration was forced to abandon a weeks-old program that let non-natives living in the city for at least three years buy a second home.

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