Let me talk about the current trend of the housing market. Real estate developers can't hold down the price reduction.

1, I think the regulation will continue, such as "purchase restriction", depending on the establishment time of the national housing information system (as the basis for tax collection in the future). At present, 40 cities have been established, and the comprehensive establishment will be 20 13, which means at least it will not be relaxed before the transition.

2. "Real estate developers can't hold back" must first clarify a concept: what is "holding back" and to what extent. Every city and even every developer is different. Due to the diversification of development, large developers have restricted the purchase of houses and commercial development. If the east is not bright and the west is bright, other small developers may face a big reshuffle and will be annexed by big developers to ensure stability. What's more, of course, it may be the price reduction that you are most concerned about. I think this range varies from developer to developer, and 50% is possible, depending on the time when their property entered the market and the cost of land acquisition in that year.