In contrast, in 1950, the median downpayment for FHA first mortgages was 35%, for Veterans Administration first mortgages, 8%, and 35% for non-government conventional first mortgages.
Over the last two years, the government has raised downpayment and mortgage requirements, imposed a property tax for the first time in Shanghai and Chongqing, increased construction of low-cost housing and enacted home-purchase restrictions in about 40 cities.