Man, by that rate it will be 2030 and they would still talk
Most Westerners think that China speed is very fast and Xi is a dictator. Tell them to check how long he has to wait to pass policies and enforce them, and then see how slow it takes lol
The housing policy is tied intricately to great power competition and the US dollar.
There are 3 stores of wealth in a country, bonds, stocks and real estate.
Bonds and stocks can be speculated, bought, sold, rebought and resold in a second, housing cannot.
Have you ever wonder why China was able to dodge the 1997 crisis? How Samsung is majority owned by Americans?
The Chinese housing market still needs to serve a arsenal of wealth for a bit longer until dollar denominated assets and equity bubble burst.
My estimate is that RE tax will be synchronized with DCEP and floating the RMB.
Lastly, while China is an authoritarian state, there are still powerful interest groups, both public and private.
A lot of things sounded like a great idea at the time, US Prohibition/Volstead Act is a good example. It is best to test it out and have a sustained policy than shooting from the hip.
US can shoot from the hip due to a built up of advantages over a century, a challenger like China cannot afford to miss, even once.
