Open AccessInternational Real Estate Review
Author(s) -
Anthony Yanxiang Gu,
Joseph W. Trefzger
Publication year - 2003
Publication title -
journal of the asian real estate society
Language(s) - English
Resource type - Journals
ISSN - 1029-6131
DOI - 10.53383/100049
Subject(s) - business , government (linguistics) , real estate , payment , affordable housing , balance (ability) , finance , language change , china , balance of payments , economics , monetary economics , economic growth , medicine , art , philosophy , linguistics , literature , political science , law , physical medicine and rehabilitation
We propose a program that would further promote housing privatization in China. In addition to operating its current Housing Savings Fund program, the government could guarantee loans, with payments capped at affordable levels or spread out over workable payment periods. Such a program would balance efficiency with fairness by encouraging market forces, while addressing practical necessities (lenders?rights, corruption, labor mobility) so that privatization could relieve the burden on government and taxpayers. Net benefits would arise through the private market’s greater efficiency in managing housing resources.