Real estate has a special status in China"s macroeconomic regulation and control whereby it affects both the people and China’s economy. ABOUND’s chief researcher Chen Gong highlighted that the plunge in housing price will probably lead to losses in individual investment, breakdown of credit guarantee system, bank credit crunch and eventually lead to under investment. Therefore, China’s housing price should neither hike nor plunge because stabilizing the housing price means stabilizing China’s economy and society.
