China’s new home prices fell at the fastest pace in more than nine years in August, official data showed on Saturday, as supportive measures failed to spur a meaningful recovery in the property sector.
China’s new home prices fell at the fastest pace in more than nine years in August, official data showed on Saturday, as supportive measures failed to spur a meaningful recovery in the property sector.
This I believe is an intended effect of Chinese government’s shift away from depending on housing investment as primary factor in driving growth - to bring home affordability back as home ownership has become a deterrent to marriages and child-rearing, both in severe decline and the biggest long term strategic threat to China.
Uhm, you mean that after the government let the speculators run rampant in the housing market building entire ghost cities while inflating the prices using consumer money… they cracked down on the building sector and are leaving consumers holding the bag.