China’s housing slump is deepening:



New home sales from the 100 largest developers in China fell -17.6% YoY in August, to 207 billion Yuan, one of the lowest readings on record.

This marks the 6th straight monthly decline, after a -24% YoY drop in July.

China’s housing downturn has dragged on for more than 4 years now.

And, even as China began pandemic-like stimulus 12 months ago, the housing market just keeps on falling.

Meanwhile, demand for new homes in Chinese cities is estimated to remain 75% below its 2017 peak.

China’s 2008 moment is happening as we speak.
HOME3.96%
IN1.75%
MORE-1.81%
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