After almost two decades of nearly unceasing increases in real estate prices and construction across China, one of the world’s longest-running bull markets finally seems to be stalling, with broad consequences for China’s economy and possibly its politics as well.
Housing starts plummeted 25 percent last month from a year ago, the Chinese government announced on Tuesday — a severe blow for a country in which residential real estate construction has come to account for one-ninth of all economic output.
Prices have begun falling for new apartments and old ones, and the volume of deals is drying up. The square footage of housing transactions slumped nearly 16 percent last month, as sellers were reluctant to accept the discounts that buyers increasingly demanded.
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bljworldwide via CHINA US Focus http://ift.tt/1nJUjl3
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