MISH’S Global Economic Trend Analysis
China
eased purchase restrictions last month ending its four-year campaign to
contain home prices. And what a ridiculous campaign it was. Prices are
down less than 1% this month and less then 1% year-over-year.Bloomberg reports China Home-Price Drop Spreads as Easing Doesn’t Halt Fall.
Prices
dropped in 69 of the 70 cities in September from August, the National
Bureau of Statistics said in a statement today, the most since January
2011 when the government changed the way it compiles the data. They fell
in 68 cities in August.
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