Shaun Rein writes:
In interviews with dozens of homeowners my firm conducted in the past several weeks, the majority expected a 10 percent plus price drop, but only a minority said they would sell if prices dropped that much. Less than 5 percent said they were rushed to sell. Over 90 percent said they would hold on to the units no matter how long it took prices to rebound.
Moreover, there is massive pent up demand from both the average Chinese looking for a house to live in and from real estate investors with cash in hand looking for places to park money in, given the lack of alternatives.
...
People in China have the money and the desire to buy homes but have been restricted from buying because of these regulations. They are now taking a wait and see attitude.
While the residential real estate sector is definitely slowing, pent up demand and lack of debt among homeowners will ensure a soft landing.
Read more: http://www.cnbc.com/id/45635543/
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