China to End Public Housing Construction; Central Govt to Fund Buying of Empty Homes, Bulldoze Shanty Homes

Back in January I posted Fastest Way to Reduce Housing Inventory: Bulldoze Shantytowns, a policy suggestion by the MoH. The plan was to accelerate shantytown development, effectively bulldozing existing homes, and moving the displaced residents into empty homes. Apparently this is going to be official central government policy in 2016, along with ending public housing construction.
In that spirit, the building housing the Department convened numerous meetings videophone system. Minister of Housing and Urban Ministry, Chen Gao stressed that "must be determined to get through the housing and public rental, shed change room channel,"
The effort was tried in some cities, but due to financial constraints (the real estate bust), cities were unable pay for it on a large scale. In 2016, the central government will step in and fund the policy:
January 24, 2015, in Fuzhou, Fujian Province issued under "About Fuzhou purchase and housing and resettlement housing, resettlement agreement repurchase guidance (Trial)", proposed by the government to acquire the market in the hands of urban housing stock, for the protection of subsidized housing housing. Since then, parts of Liaoning, Hubei, Jiangsu and other provinces have begun to follow suit, to try.

"However, in the circumstances, the acquisition of the direct cost to local government expenditure, the long-term, large-scale acquisition of local government can not afford, and because of this, the government purchased the stock room of the way, just to try, did not become mainstream in the country. However, in 2016 which, after having financial support, this will be an unprecedented increase efforts to open up. "preceding the local Housing and Urban Construction Department sources said.
More than 400 billion yuan in funding:
To this end, the State Council to coordinate the State Development Bank and other policy-oriented financial institutions to provide financial support, in 2016 China Development Bank plans to invest in loans, will exceed 400 billion yuan in 2015.

iFeng: 政府在出大招去库存! 大力收购存量住房

Some English coverage here: China Seeks a Way to Fill its Empty Homes

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