Bearish for China market
China's housing market is in free fall:
Prices of newly built homes in China fell 6.1% year-over-year in September, the largest drop since 2015.
Existing home prices dropped 9.0%, the biggest decline in at least 13 years.
On top of this, existing home prices decreased in all 70 of China's major cities this year.
Even as China rolls out pandemic-like stimulus, their real estate market continues to collapse.
China needs a major economy restructuring.
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- chenobserver·10-23It seems like the housing market in China is facing some serious challenges.LikeReport