"Speeding up the construction of welfare apartments is a key measure to curb housing prices. It will cut demand and help solve the problem of the real estate market," he said.
China will build 10 million welfare apartments respectively in 2011 and 2012. A total of 36 million welfare apartments will be built from 2011 to 2015, Wen said.
Wen Jiabao thinks that someone who qualifies for a welfare apartment would also buy three others costing 150k and leave them empty?
Of course, his words/actions are all about stability not about confusing two distinctive markets for housing. If his promise is kept, the demand for construction materials won't be slacking as quite as far as the hedge funds betting against china think they will.