2. China people's affection for houses is "too deep". Young people will only get married if they buy a house. Naked marriage is hard to accept in China and China!
These young married people will buy these newly-built houses, and those high-end properties are bought by rich people, let alone sold!
Although the state has been formulating policies, you can actually buy a house as long as you want. China can't get rid of real estate in a year or two. After all, the director of premises is still a pillar industry in China!