The editorial says that the phrase insisted by China's leaders in 2016, being "houses are for living in, not for speculation" should continue to carry more weight especially now. The phrase was removed from the Politburo statement last month and could be interpreted as a signal that tighter rules to the property market could be loosened. But the opinion piece here says that:
"The positioning of "houses are for living in, not for speculation" should be insisted on and is not out of date. In some popular cities, housing demand still exceeds supply. Once speculation on house prices resumes, China may go back to the old path of the over-reliance on the real estate sector, which will have adverse impacts on economic and social development."
Yes, I don't think we're actually reading this wrong. This is a state media article and it is one that seemingly questions Beijing's actions and how they have handled the property sector mess. I think that speaks more to the rise in dissatisfaction and social dynamics in China at the moment, which has been brewing for a while now and largely exacerbated by their handling of the Covid pandemic.
