More on China's local governments buying houses to prop up failing developers

This from yesterday:

• Chinese media report local governments to buy houses (part of economic stimulus measures)

The South China Morning Post have a report today with more (may be gated):

• Local Chinese governments snap up new homes in bid to buoy battered housing market, ease strain on developers
• Local governments in China are buying up thousands of new homes in an effort to buoy the battered housing market and take some pressure off developers.
• The authorities in Suzhou in the southern province of Jiangsu snapped up some 5,000 new units in September, that equates to about half the total number of new flats that were sold in the city that month.
• Jinan in northern Shandong province also buyers
• Altay prefecture also

More at that link