Fulong Wu
Commodification and housing market cycles in Chinese cities
University College London
paper assesses housing commodification china used cope impact financial crises open new opportunities boost economic growth particular aftermath global financial crisis injection capital led new housing market cycle explain major housing market cycles 1978 suggest underlying linkage macroeconomic measures aimed making housing liquid asset richer households increasingly using second homes investment strategy chinese form development regime examined revealing role local government promoting housing markets one hand concern central government property bubbles financial risks leading adaptation regulated approach restrict housing sales argue housing market cycles understood seeing property development centre urban development china