中国房地产_涨势持续_（二）_脱离现实

Policy drive to accelerate fundamental recovery. What began as a slow drip of policies YTD to revive the property market has become a stronger dose of stimulus. The weight of policy stimulus that has emerged presents some surprise elements. We think this lays the groundwork for revived sales momentum after a period of slowdown, allowing the market to price in more "hope" of a recovery. New supply should be relatively tight as previously discussed (A five-factor guide to the inflection point, 4 August). Not ...