Thursday, October 6, 2011

Chinese Housing Market Prompts Divorce Fakes

From International Business Times:

As America tries to recover from its housing bubble burst, China's housing bubble is blowing up. The latest: Chinese couples are faking divorce so they can borrow more money to buy more second and third homes, trying to seize upon rising prices.

In the effort to curb the growing housing bubble, the Chinese government has tried to initiate actions to make getting second mortgages harder. The government raised the down payment for second mortgages to make them harder to obtain, and about 40 Chinese cities have begun to limit apartment purchases to two per family, according to a story from Bloomberg.

The government, the story says, has also asked commercial banks to quit giving loans to third-time home buyers.

Read more here.

MR

http://lawprofessors.typepad.com/family_law/2011/10/chinese-housing-market-prompts-divorce-fakes.html

Current Affairs | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef014e8abfb61b970d

Listed below are links to weblogs that reference Chinese Housing Market Prompts Divorce Fakes:

Comments

That sounds like a serious problem for the Chinese economy.

Posted by: Tulsa Divorce Attorney | Oct 6, 2011 12:08:54 PM

This is going to sound bad, but I'll just say it - I don't trust the Chinese economic structure any further than I can throw it.

Posted by: Oklahoma City Divorce Attorneys | Oct 6, 2011 6:28:31 PM

Post a comment