The reason I asked about primary education is because this may be a concern for the majority of rural families (aspiring or established) that move to cities. If their children can't even attend K-12 due to hukou restrictions, collegiate level may be of concern for the minority of them.
“Prior to this reform, I would have been under pressure to buy a property…”
To your point, I believe the central government has been trying, and thus far succeeded in cooling the property market. Mainly to pivot away from a worrisome economic trend. Which is, the nation's dependency on new debt to generate output growth (i.e. credit intensity of growth).
Rising indebtedness and delinquencies are causes for more concern. Perhaps more than meets the eye. Beyond providing urban hukou for ruralites to reduce disparity gap, or simply dafang to prevent real estate bubble pop.
As mentioned earlier, many Chinese home buyers take out mortgages and loans for real estate speculation whatnot. These mortgages account for rising share of household income. For lower-income families, around 40% of income is earmarked to cover these mortgages. Nearly a quarter for the middle-income.
The '19 urbanization plan may be just one of the vehicles to buck this trend.
China’s household consumption’s share of GDP has been slumping at an alarming rate. Unlike household consumption expenditures, over abundance of household assets in real estate may not spur economic growth. White elephant ghost towns of high residential vacancies due to speculations do not generate thriving business activities.
Moreover, household assets in real estate also means less are saved. Declining savings rate reduces capacity for state-run banks to loan infrastructure projects to boost GDP and sell global influence, such as the BRI.
Aforementioned loans from nonbank financial lenders (via apps) are becoming increasingly popular, which also undermines the reach of state-run banks. More Chinese are importing luxury or travelling abroad by borrowing from such online lenders, thus exacerbating rates of household debt to GDP.
Furthermore, given China’s fast-aging population, income growth continually shrink as savings are extracted for retirement. Given less capacity to stock up on U.S Treasury foreign exchange reserves to limit U.S. interest rates, depleted savings translates to a rising Yuan. A big no no from Chinese economists' POV.
The future of China's hegemonic aspirations is at stake. That, imo, is the true pink elephant.