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.
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.
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)
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The Wall Street Journal