"Dizzying" home prices in China

You may have heard that a housing bubble is popping in China. Not so, says China Daily. The newspaper says that prices are still rising briskly—and that’s not a good thing. The higher prices get, the farther they’ll have to fall. To quote:

“The November figure indicates that the momentum of property price hikes in major cities remains strong.

“Only when the government substantially increases the supply of affordable homes for low-income groups and provides more land lots for development can the imbalance of demand and supply in the property market be addressed.”