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Falling housing prices threaten China growth

Falling housing prices threaten China growth
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First Published: Tue, Nov 08 2011. 10 41 PM IST

A construction worker stands on a scaffold in an area where old residential buildings are being demolished to make room for new skyscrapers in Shanghai (Reuters)
A construction worker stands on a scaffold in an area where old residential buildings are being demolished to make room for new skyscrapers in Shanghai (Reuters)
Updated: Tue, Nov 08 2011. 10 41 PM IST
Adecline in China’s property prices is picking up steam, suggesting Beijing has had some success in taming housing costs, while also raising concerns that prices could drop too far and fast when the rest of the world is relying on the country as an engine of growth.
A construction worker stands on a scaffold in an area where old residential buildings are being demolished to make room for new skyscrapers in Shanghai (Reuters)
House prices were flat or falling in a majority of China’s top cities, weekly data released Monday show. The weekly data, though volatile, add to evidence that housing prices are headed downward after years of consistent increases.
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The Wall Street Journal
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First Published: Tue, Nov 08 2011. 10 41 PM IST