Chinese house prices were out yesterday and showed a sudden acceleration, up 0.5% on the month and 5.3% on year:
The breadth of price rises expanded to 54 cities:
Top tiers lagged:
Here’s the raw data:
It’s a little odd given sales remain shite:
But that’s the rub in China. Monetary easing always ends up in property owing to a dearth of anything else to buy.
And with trade and the consumer stuffed, what else can China do to grow?
There’s more money and price rises coming.
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.
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.
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