Is the real estate crisis spreading into an economic downturn as the housing market in China’s major cities freezes amid a ‘transaction cliff’?
Prices of built-up homes in 67 out of 70 major cities across the country fell from a year ago The recession is spreading to second-tier cities such as Nanjing, Shenyang, and Chongqing, and local areas are on the verge of population extinction The decline in the real estate market is expected to continue this year,…