That worked out to 10.8 million yen a square meter of land, the seventh-highest price paid for a Tokyo site.

CNN: SELLING THE COMPANY CASTLE

The average land price fell 16% to 1, 061 yuan per square meter last year.

WSJ: China Home Prices Fall Again

An alternative would be to meter all water users, and to vary the price according to availability.

ECONOMIST: Banning hosepipe use is a poor solution to a water shortage

Allowing the private sector to set meter prices might be the best possible way to get to the right price in a city where politicians fight tooth and nail to keep parking cheap.

FORBES: What Matt Taibbi Misses on the NYC Parking Meter Deal