December 1, 2007
The cover feature of this week’s New Century Weekly looks at the current real estate downturn that started in Shengzhen and spread to Guangzhou and Zhujiang River Delta area, and which is now affecting other cities like Beijing, Shanghai, and Chongqing.
The feature, titled “House Flu is Coming,” notes that trading volume is dropping for both new and second hand housing. Developers are beginning to find different methods to attract consumers, including price reductions, cash rebates, and even “buy a house, get a free car” gift deals. But buyers are increasingly holding on to their money in the hopes of getting further price reductions.
Taking into account the government’s tightened monetary policy, new real estate regulations, and the fact that property prices were skyrocketing not too long ago, the magazine concludes that this “house flu” is just an adjustment, not a turning point.
Other coverlines:
- Reflections on the tragedy of “the husband who refused to sign”: A feature report and discussion about the controversy surrounding a husband’s refusal to grant permission for his wife’s operation (earlier). The magazine says this is a typical example of the contradictions that exist between patients and doctors in China today;
- Fengshui, a traditional Chinese practice of using the arrangement of space to achieve harmony with the environment, has quietly reappeared in China and has spread around the world;
- An investigation into the death of a junior high school student who fell off a building after being slapped on the face several times by his teacher.