China unleashes new property bubble

Just like the old housing bubble, via Bloomie:

China’s property market is shaking off the coronavirus effects as a gradual economic rebound and the further relaxing of centuries-old permits boost demand beyond the major hubs of Beijing and Shanghai.

…The fragility of China’s economic recovery from the outbreak and sky-high home prices haven’t shaken investors’ long-standing belief that real estate is a safe bet. Even as consumer demand and private-sector investment in the world’s second-biggest economy remain weak, property prices rose in May at the fastest pace in seven months.

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