China Acts on Property Bubble. Fianna Fail Please Note

In Chine consumer price inflation was 2.7% in February and 2.4% in March.
factory gate inflation was 5.4% and 5.9% respectively. The median estimate
of China’s current growth rate is 11.7% in the past 12 months. The Chinese
State Council is worried about a property market bubble. So unlike Fianna
Fail, the government forced the banks to make anyone buying a second home to
put up 50% themselves up from 40% and they raised the mortgage rate on
second homes. The down payment for first homes bigger than 90 sq M was set
at a minimum of 30%. If this is ineffective interest rates will be raised.

No messing in China. The Chinese can count. But the government does not have to face the rejectorate every 4 or 5 years!