Housing Bubble, Deflating
Leaked Recording Reveals True State Of Chinese Housing Market
Since the U.S. does business with China, anything done economically on a large scale can, and most probably will affect the U.S. That is why in my opinion, I think it’s important to keep an eye on China.
From the article:
The numbers of flats and houses for sale has suddenly doubled. “Many owners are trying to get rid of high-priced houses as soon as possible, even at the cost of deep discounts. As a result, ordinary people who want to sell homes in the secondary market must face deep price cuts,” he said.