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China: Bring On the New Financial Order

Just a quick question from the hinterland(shenyang)? Who in the hell actually put a 20-30% downpayment on property in the first place? My primary residence purchaed in 2001 required it. Since then I haven't met a single soul who was in any way, shape, or form connected who has.
I feel China at the moment is a huge echo box which will amplify each and every blow without end or relief due to the vicious cyle of developer, bank, bureucracy, developer, bank, ad nauseum.