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| China News Economy, Politics, Society, Regulation and Reform -- News by FT.com |
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02-05-2008, 12:50 PM
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Top Level Member
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08-15-2008 10:11 PM Join Date: Feb 2007
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Re: The CEQ on FT.com: Housing privatisation
Privatisation produced multifarious effects. Enterprises received an immediate cash infusion and were freed from the costly burden of building housing for their employees. Employees got an implicit subsidy when they bought apartments at well below market rates. The commercial real estate market exploded, as did the market for mortgages to finance new home purchases.
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