Beijing real estate market prices crash 26.7% in ONE MONTH

And you thought the US real estate bubble was bad!

Beijing March New House Prices Plunge 26.7% M/M: Press

Prices of new homes in China's capital plunged 26.7% month-on-month in March, the Beijing News reported Tuesday, citing data from the city's Housing and Urban-Rural Development Commission.

Average prices of newly-built houses in March fell 10.9% over the same month last year to CNY19,679 per square meter, marking the first year-on-year decline since September 2009.

This is the beginning of the end for China's economic prosperity hoax.

Thanks for the heads up....now can yu actually tell me why this signals the end of the growth cycle that china has been riding?
I realise its a big fluctuation, but whats the root of it?
What is the goverment up to to allow this to occur?
I thought they had a better control of their eceonomy.....????

Originally posted by Vitchilo
And you thought the US real estate bubble was bad!

Beijing March New House Prices Plunge 26.7% M/M: Press

Prices of new homes in China's capital plunged 26.7% month-on-month in March, the Beijing News reported Tuesday, citing data from the city's Housing and Urban-Rural Development Commission.

Average prices of newly-built houses in March fell 10.9% over the same month last year to CNY19,679 per square meter, marking the first year-on-year decline since September 2009.

This is the beginning of the end for China's economic prosperity hoax.

I think it's too soon to claim that dude
2nd line

NM

There trying to prevent an economic war with the Illuminati and the US trying to start one, keep your eye on the dollar ^^

Well lower demand could trigger this. China is developing massive new cities across the nation, flooding markets with new housing. Also, not often mentioned, is the drought situation China faces in the north. It is much like the "dust bowl" of Great Depression" America. Prevailing winds carry dust storms into Bejing.

reply to post by Vitchilo


Yeah this is serious - starting to spread like wild fire - Beijing is down by over %50...whoah - see you later resource economies, Australia, Brazil Africa.........


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