China’s largest real estate developer believes
the country’s property market, a key driver for the economy,
has turned and expects conditions to worsen in the coming months as sales prices volumes decline further.
China Vanke, the country’s biggest developer by market share, said government efforts over the past year to rein in soaring prices were having a severe impact on the market and developers were being squeezed after
sales volumes in 14 of the country’s largest cities halved in September from a year earlier.
“We can see a trend of declining sales, especially in the major cities,” Shirley Xiao, executive vice-president at China Vanke, said on a conference call with investors on Tuesday.
another one,
The property bubble in China has finally burst. Denial has turned to anger as
Shanghai Homeowners Smash Showroom in Protest Over Falling Prices—
A group of around
400 homeowners in Shanghai demonstrated publicly and damaged a showroom operated by their property developer after the company said it cut prices. Home buyers had wanted to speak with the developer to refund or cancel their contracts but were unsuccessful, according to local media. One report said the price cuts exceeded
25% per square meter.
The local media reports said an unspecified number of people were injured.
Chinese media separately reported that another group of Shanghai homeowners gathered on Saturday to speak with Longfor Properties Co., after it dropped asking prices to 14,000 yuan per square meter from 18,000 yuan per square meter at a residential development in the city’s Jiading district.
The Shanghai property-owner demonstration found little support on China’s Internet, where most still expressed worries that housing prices are still too high after 22% Drop Overnight
The drop from 18,000 to 14,000 yuan is a 22% overnight drop and that is just a down payment on the carnage that is coming…
Regardless of timing, the inevitable “collapse” has now begun. Massive deflation in Shanghai and the accompanying riots sure do look like signs of a collapse to me. I fear the world has been so preoccupied by the endless debt soap operas in Europe—
Days of Our Lives,
As The World Turns— that they have not noticed what’s happening in China, which may be much more important to the fate of the global economy over the long run. Some
Americans have become quite adept at identifying stages in the lifecycle of bubbles
Originally Posted by basic
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I just listen to my boss's conversation while driving him to work and come here to post while waiting for him...
Singapore is a relatively better sheltered place. 
