The empirical study of the price mechanism in the Chinese housing market

In China, the history of the establishment of the private housing market is pretty short. Actually in less then two decades, the market has grown from almost the scratch to playing an important role in the economy. A great achievement! But many problems also exist. They need to be properly addressed and solved. Price problem---simply put, housing price is too high--- is one of them, and this paper is focused on it. Three basic questions are posed, i.e. (1) how to judge the housing affordability? (2) why the housing price is so high? (3) how to solve the housing price problem. The paper pays particular attention to answering the second question. Except the numerous news reports and surveys show that most of the ordinary city dwellers complained about the high housing price, the mathematical means, the four ratios, are applied to judge the housing affordability in Shanghai and Shenzhen. The results are very clear that the price problem is severe. So why? Something is wrong with the price mechanism. This research shows that mainly these five factors contribute to the price problem: the housing reform, the housing development model, the unbalanced housing market, the housing project financing and the poor governmental management. Finally the paper puts forward five suggestions to solve the housing price problem in first-hand private Chinese housing market. They include: the establishment of real estate information system, the creation of specific price management department, the government price regulation, the property tax and the legalization of "cushion money".

1st Kassel Student Workshop on Security in Distributed Systems

With this document, we provide a compilation of in-depth discussions on some of the most current security issues in distributed systems. The six contributions have been collected and presented at the 1st Kassel Student Workshop on Security in Distributed Systems (KaSWoSDS’08). We are pleased to present a collection of papers not only shedding light on the theoretical aspects of their topics, but also being accompanied with elaborate practical examples. In Chapter 1, Stephan Opfer discusses Viruses, one of the oldest threats to system security. For years there has been an arms race between virus producers and anti-virus software providers, with no end in sight. Stefan Triller demonstrates how malicious code can be injected in a target process using a buffer overflow in Chapter 2. Websites usually store their data and user information in data bases. Like buffer overflows, the possibilities of performing SQL injection attacks targeting such data bases are left open by unwary programmers. Stephan Scheuermann gives us a deeper insight into the mechanisms behind such attacks in Chapter 3. Cross-site scripting (XSS) is a method to insert malicious code into websites viewed by other users. Michael Blumenstein explains this issue in Chapter 4. Code can be injected in other websites via XSS attacks in order to spy out data of internet users, spoofing subsumes all methods that directly involve taking on a false identity. In Chapter 5, Till Amma shows us different ways how this can be done and how it is prevented. Last but not least, cryptographic methods are used to encode confidential data in a way that even if it got in the wrong hands, the culprits cannot decode it. Over the centuries, many different ciphers have been developed, applied, and finally broken. Ilhan Glogic sketches this history in Chapter 6.