Famous economist Mao. (Photo from: China News) Click here to view all financial news pictures Xinhua Comprehensive News Beijing Tianyi Economic Research Institute director, famous economist Mao yesterday (12th) in the 2009 Pearl River Delta Private Economic Forum and the Pearl River Delta business Leaders Summit, said the root cause of price speculation is not developers a, But some people are too rich. He pointed out that the price is to be pulled up, if the House no one to buy, prices must not go. "Not that all the people are too rich, there are many can not afford to buy a house, but the people can afford to do very much." Mao that the reason for this phenomenon is that the current income distribution mechanism favours the rich, and the rich investment channel is too simple, resulting in a large amount of money into the real estate market. He said that the current high vacancy rates in Shanghai and other places, but the price is still hovering high, which is not normal.
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