The renminbi devalued 5 percent from July 1 through today. Of the 70 cities in the NBS housing survey, only 22 have price rises that exceed the devaluation. All 22 have implemented buying restrictions. iFeng: 中国仅22城房价涨幅超过人民币贬值速度 有你家吗？
The right column in the chart below shows the second half price rise. The left column shows the October price change.
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David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
