Mortgage

The Chinese solution for a housing bubble? Capped prices

Fears of a housing bubble are not unique to the United States. In fact, both China and Canada have addressed similar concerns in the past year.

Beijing is currently dealing with surging home prices and skyrocketing payments, according to the latest Rob Chrisman Report.  

So what is the local solution?

According to Chrisman, the city has enforced citywide price caps over the course of the past three months and is withholding presale permits for new projects when ‘planned’ selling prices are considered too high.

Canada seems to be dealing with similar concerns. The Secretary General for the Organization for Economic Co-operation and Development recently told the Wall Street Journal that in fact the housing market may be overvalued, but said it’s not reflective of a bubble. Read more about Canada’s concerns in The Globe and Mail.

In other news from the Chrisman report, Stonegate Mortgage Corp., is hiring in Chicagoland, seeking skilled candidates for both retail and correspondent operations.

You can read the full Chrisman Report here.

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