China property crash deepens

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Under the garbage formerly known as markets, Chinese property continues to deteriorate:

The slump in home sales deepened for real-estate companies in November. Contract sales by the country’s top 100 developers plunged 38% from a year earlier to 751 billion yuan, sharper than the 32% drop in the previous month, according to preliminary data compiled by research firm China Real Estate Information Corp.

More on the data:

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About the author
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.