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China’s housing market is breaking down piece by piece.
September marked the sharpest monthly drop in nearly a year. New-home prices slipped 0.41%, used homes fell 0.64%, and for the first time in a year, every one of China’s 70 major cities saw prices decline. It’s now been 29 straight months of losses.Property investment has plunged 13.9% year-over-year, the weakest level since 2014.For millions of Chinese families, real estate has long been more than shelter, it’s been their savings, their pension, their proof of success.Now that foundation is cracking. What was once the engine of China’s economic rise has turned into a nationwide confidence crisis.Source: StockMarket.News
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