Chinese house prices have stalled

China’s house prices are out. They lifted just 0.1% for a second month and 3.8% on the year:

The majority of cities saw stable or falling prices:

Top tier is dead, others are slowing:

Prices are probably not yet slow enough to trigger a building bust they are trending that way and an easing in floor area starts is the base case.

David Llewellyn-Smith
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