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.