Street survey on China's housing boom

China's housing boom has been one of the major discussions at the on-going CPPCC and NPC sessions. Most people say that housing prices are too high. Let's hear what the average home buyer has to say.

Zheng Junfeng, Beijing, said, "To own a home downtown, has always been a cherished dream of many Chinese, especially young couples and low income households. But with skyrocketing housing prices, Chinese home buyers are facing a dilemma ... to buy or not to buy?"

Yuan Yanyan, prospective home buyer, said, "I am considering buying. If you imagine the future prices, the current level would sound reasonable."

Mr. Yang, prospective home buyer, "I had a plan to buy. But I have dropped the plan due to the high prices now."

Wang Xiaodong, prospective home buyer, said, "I am going to buy a home this year because I have a plan to have my own family."

Guo Xiaochun, prospective home buyer, said, "I will buy if prices fall in a few months. But if they don't fall, I have to buy anyway because I am getting married."

Ms. Rao, prospective home buyer, said, "Yes, I am going to buy an apartment. But now even a pre-owned house is priced above 18,000 yuan a square meter. That gives me a lot of pressure."

Zhen Junfeng, said, Beij"Ever since home prices began to pick up last February, they never looked back. Within a year, prices in cities like Beijing and Shanghai have jumped over 50 percent. How could this happen?"

Yuan Yanyan, said, "One reason is that the migrant population including myself, born after the 80's, needs a home. The other reason is that there are investors in the market speculating."

Mr. Yang, prospective home buyer, said, "I don't know why. I guess there are many factors. It's complicated."

Ms.Chen, prospective home buyer, said, "Many home owners buy their 2nd and 3rd homes. But those without a home still can't afford their first home."

Wang Xiaodong, said, "The government charges too much on the land and introduced too many taxes and fees on housing development."

Zheng Junfeng, said, "Now the market is finally cooling down ... specifically transaction volumes are now running low. But will the price also stabilize and decline?"