China: Prostitutes blamed for property boom

Asia Times reports on an interesting claim by the Beijing Evening News, aparently a mouthpiece of the Communist Party, that links the boom in property prices to the failure of the police to crack down on prositution.

Apparently the 200,000 xiaojie of mistresses (prositution is illegal for its a useful euphemism) are to blame for the housing shortage.

"As a result [of removing the prostitutes], an extra 200,000 rental flats would be added to the property market. With the sharp increase in supply, a genuine turning point would be seen in housing prices.

Either the mistresses are all owner ocuppiers of upmarket property which is highly sought-after in Beijing or the Communist party needs an economics lesson!

Source: Asia Times

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