The credit bubble in China seems to blow up as the new home prices fell in Beijing by 35% in just a month. In August the construction firms reported $50 billion dollar worth of unsold inventories. In Shanghai too the prices have fallen by 25% this month.In the inland city of Changsa the property sales have gone down by 70%. The prices have dropped 70% in Ordos in inner Mongolia.
No comments:
Post a Comment