A double edged sword this. Chinese new house prices are out and continue to slow, up 0.58% in August and 8.3% year on year:
Much of the slowing was in the breadth of cities with 20 flat or falling:
Top tier cities remain subdued while lower tiers are cooling:
Here’s the raw data:
This will not aid any turnaround in the coming real estate construction slowdown. Bulk commodities would already be in the gun if not for Vale.
I still think that accident has only delayed the price correction ahead.