dreamdancer 0 #1 November 19, 2011 depression looms again... QuoteHouse prices fell in 33 of 70 cities monitored by the government in October, twice the level of the previous month. China's biggest real estate website also reported that prices slid for a second month running. "The turning point of China's home prices has come," Shen Jian-guang, an economist at Mizuho Securities, told Bloomberg. "Prices not only fell for new homes and in major cities, but also in secondary cities and in the existing home market." The fall in almost half China's cities was an increase on the 17 that suffered a decline in September, according to the National Bureau of Statistics. China's biggest cities were not immune from the slump. In Shanghai, prices for new homes dipped 0.3pc in October. In Beijing, they slipped 0.1pc. In total, average new home prices fell 0.2pc in the month, according to calculations by Reuters. The Government stopped publishing nationwide data in January. A downturn in the housing market could have damaging implications for growth as real estate investment accounts for between 6pc and 10pc of GDP, according to various estimates. A slowdown would not only hit household wealth, but also the highly active construction industry. http://www.telegraph.co.uk/finance/china-business/8900271/China-property-raises-concerns-as-prices-continue-to-slide.htmlstay away from moving propellers - they bite blue skies from thai sky adventures good solid response-provoking keyboarding Quote Share this post Link to post Share on other sites
