Categories
China

Survey for new down-payment policy

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From Sina:

Q1: Do you like (agree with) the new policy which raised down-payment for 2nd or 3rd home? (My answer: Yes).

Q2: Do you think this policy can combat the speculation and contain the home price? (My answer: No).

Q3: Will this policy affect your home buying plan? (My answer: No).

Categories
Fun

Exchange rate and bank

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I went to the China Merchants Bank today, to exchange some USD into CNY. The rate is 7.5544. From what I read, the US senate has passed a bill to push China to appreciate the CNY more faster. That certainlly did not help me (get more Chairman Mao for my green backs).

On a positive note, the waiting line at the bank is much shorter, partly because the calm down of the China stock market.

On the other hand, housing market here is going crazy. My co-worker told in one case, people bought up all the units (but 2) of a new building during its opening day. I just could not understand, on the other side of the ocean, the US housing market is ice cold.