#China's home prices have now dropped three months in a row, something that has not happened since 2015. Historically there has been a positive relationship between house prices and consumer spending. pic.twitter.com/7IDbHmEfFT
— True Insights (@true_insights_) December 15, 2021
NEW: China housing market slumps again as another developer faces troublet.co/wNQNmyQGyF
— Insider Paper (@TheInsiderPaper) December 15, 2021
China is slowing rapidly as noted by official statements of ‘threefold pressure’ and a need for stability.
Chinese banks could see their bad loan ratio of property loans more than double by the end of 2021 from the middle of the year, S&P Global Ratings said, as headwinds in the Chinese property sector intensified in the second half.