The slump in home prices has led winners of the housing lottery to give up their rights, in sum about 1800 of them. In July, I covered this phenomena in More Beijing Residents Give Up Affordable Housing Rights. Some areas will organize a new lottery, but if the homes aren't chosen, they will eventually be sold to the public.
Some properties are located far from the city center; joining the lottery was free; and falling prices likely lured some buyers away. I doubt very few people, if any, gave up the more centrally located affordable housing.
iFeng: 北京5自住房1800多套房遭弃选 将公开销售
A contrarian take on the US inflation freakout
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Not as bad as it looks — better for the Fed to keep calm, and carry on?
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