China too maintain tight real estate policy

Now we're going to see how much of a bubble exists. Wen Pledges Property-Tightening Resolve
"I will especially stress that there will not be the slightest wavering in China's property-tightening measures—our target is for prices to return to reasonable levels," Mr. Wen said. "The property-tightening measures have been ongoing for two years, and some major policies have already been rolled out, especially this year's construction of 10 million public housing units, which will temper pressure on prices, and slow demand (for private housing)."
First real estate volume slows, then prices. We are just seeing the start of a slowdown in home prices, if the bubble bursts, 2012 should see a double-digit decline.

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