Sessions have to be a turning point for real estate fervor
- Source: Global Times
- [03:45 March 15 2010]
- Comments
By Li Yanjie
If asked what issues will stand as the most memorable from the 2010 sessions of the NPC and the CPPCC, most Chinese would certainly say the debates on housing prices.
A list ranking quotations by NPC deputies and CPPCC members by sina.com.cn shows what the public expects most from the two sessions.
Of the 20 top quotations from the two sessions listed on www.sina.com. cn, six focused on the high housing prices. One quote suggested now is the decisive moment to require State-owned enterprises to withdraw from the real estate market, while a mi-grant-worker-turned deputy proposed offering more government support to affordable housing as migrant workers can hardly afford the rising housing prices in cities.
The public's concern over housing prices shows their expectations for the two sessions and hopes that the 2010 NPC and CPPCC can promote the government's efforts on regulat-ing and controlling China's overheated real estate market.
The figures released by the National Bureau of Statistics show clearly how heavy a burden expensive apartments are. The national housing price in January 2010 increased by 9.5 percent compared from last January, while the per capita disposable income in 2009 increased by 9.8 percent in real terms for urban residents, and 8.5 percent for rural residents.
Premier Wen Jiabao emphasized in his recent government work report that people should live a happier and more dignified life. How can people live a more dignified life if they have to sacrifice most of their earnings for an apartment?
China has issued many guidelines and regulations to control the growing housing prices for years. From last December to this January, the central government issued poli-cies to strengthen the management of the real estate market, including mortgage loans, land development and construction, as well as building more affordable apartments. But these policies have rarely achieved the expected results.
Now the public has a growing dissatisfaction over the uncontrollable housing prices. The top issue netizens responding to surveys on many websites wanted to ask Wen about at his press conference was that of the high housing prices.
The problem can't be solved quickly, and the two sessions alone won't be able to do so.
What the public expects is the governments at all levels will see the importance of the housing issue and begin to take measures to eradicate bubbles.
The housing issue will definitely be a focus of the 2011 sessions of the NPC and CPPCC. With proper measures, it will not be so hot.
It's not too much to ask that history regard this year's two sessions as a turning point in the effort to control housing prices. It is critical that progress be made starting now.
