"House prices in big cities like Beijing and Shanghai have far exceeded the purchasing power of the working class. Some privileged people are probably the main property market customers in these cities. If they sell their houses because of policy changes, the supply-demand balance of the market will be greatly affected."

YIN ZHONGLI, a researcher at the Chinese Academy of Social Sciences, said about recent scandals involving officials who own a number of houses.

(China Daily 01/23/2013 page2)