Sinocism leads us off:
Real Estate relaxations – If all cities but Beijing, Shanghai, Guangzhou and Shenzhen are allowed to relaxing housing purchase restrictions, as the excellent REDD reports, then that is quite the policy backtrack and a sign of how desperate the situation is becoming for developers and local governments that need land sales revenue. In previous cycles these moves would have been enough to generate a rebound.
Not this time. Why buy when “houses are for living in, not speculation?” If Chinese demand is reduced to fundamental household formation then its property market is finished.
