Shanghai Housing Sales Plunge 86%

There is no doubt that the economy of the world’s Ultimate Crony Capitalist State is being rattled.

(From Money Maven)

Clement Luk, a director for east China at Centaline Property, said the home-buying mood has been dampened by the tightening of mortgage lending and the prolonged US-China trade war that discouraged spending.

“People do not want to commit in big investment now, like purchasing any homes, as market sentiment has cooled quickly since March,” he said.