Zhu is counting on housing reforms to take up the slack.

CNN: FROM BAD TO WORSE

The private rented sector would also be expected to take up more of the burden of housing the poor, although campaigners have questioned whether this will happen.

BBC: Social housing budget 'to be cut in half'

The national disaster agency said it could take up to six months to build temporary housing for the 60, 000 who are now homeless in the wake of the storm.

BBC: Philippines Typhoon Washi death toll reaches 1,249

The NHF has called on the government "and the whole housing industry to take a long-term, joined-up approach to tackle the market difficulties".

BBC: Benefits warning over workers

But afraid of a deflation that is quite simply not deflation, the Fed will use all of its powers to prop up the housing and mortgage assets that necessarily need to fall in order for a recovery to take shape.

FORBES: A Global Market Correction Authored By Governments