02.11.2011 - Chinese property collapse 101
What does a meltdown in China's economy look like? It starts in the property sector, the main domestic growth driver. Government controls on speculators have already started to bring residential property prices down. National average prices for residential property fell 0.23% month-to-month in October, the second month in a row of falling prices, according to data released Tuesday by the China Real Estate Index System. If buyers who are used to prices moving only upward adopt a wait-and-see attitude, then sales volumes will fall. Sales so far this year have been robust, up 12% year-to-year in the first nine months...............................................Full Article: Source
Print