China Property Market Faces Torrential Headwinds as Evergrande Collapse Shines Light on Sector’s Problems
China’s property market is imploding and sending signs that China’s GDP is in trouble.
Reuters reported on Wednesday:
China’s property market suffered more headwinds in November, with home prices, sales, investment and construction all falling, weighed by weak demand and a cash crunch among developers.
New home prices fell 0.3% month-on-month in November, the biggest decline since February 2015, according to Reuters calculations based on data released by the National Bureau of Statistics (NBS) on Wednesday. That was worse than the 0.2% drop in October.
Only nine of 70 cities tracked by NBS saw monthly price gains in November, the fewest since February 2015, according to Reuters calculations.
In a separate NBS statement,
