Jump to content
House Price Crash Forum
Sign in to follow this  
interestrateripoff

Chinese Real Estate Bubble Pops: Beijing Real Estate Prices Plunge 27% In One Month

Recommended Posts

http://www.zerohedge.com/article/chinese-real-estate-bubble-pops-beijing-real-estate-prices-plunge-27-one-month

Could the Chinese monetary tightening be working? The National Bureau of Statistics has released its latest food price update for the period April 1-10, which shows that while most foods continue to rise modestly, several food products have plunged particularly cucumbers and rapes, both falling 8.8%, kidney beans 6.3% and kidney beans down 6.3%. Yet this is nothing compared to what is happening to Chinese real estate: it appears Chanos' long anticipated property bubble may have popped... but the supersonic boom is so loud that nobody has heard it yet.

From Market News:

Prices of new homes in China's capital plunged 26.7% month-on-month in March, the Beijing News reported Tuesday, citing data from the city's Housing and Urban-Rural Development Commission.

Average prices of newly-built houses in March fell 10.9% over the same month last year to CNY19,679 per square meter, marking the first year-on-year decline since September 2009.

Home purchases fell 50.9% y/y and 41.5% m/m, the newspaper said, citing an unidentified official from the Housing Commission as saying the falls point to the government's crackdown on speculation in the real estate market.

Wow if that figure is anywhere near accurate that's one hell of a monthly house price crash. I expect China's monetary policy to be swing about by 180 degrees and is about to become somewhat looser!

Just for fun what would that figure be if annualised :)

Share this post


Link to post
Share on other sites

http://www.zerohedge.com/article/chinese-real-estate-bubble-pops-beijing-real-estate-prices-plunge-27-one-month

Wow if that figure is anywhere near accurate that's one hell of a monthly house price crash. I expect China's monetary policy to be swing about by 180 degrees and is about to become somewhat looser!

Just for fun what would that figure be if annualised :)

China gets deflation - they successfully kill the propoerty ponzi scheme, maintain their conpetitive advanantage and resource the goods that would affect their population most - food, shelter (and as much of the energy as ossible even if from coal internally. Meanwhile the money printing idiots around the world see the inflation they are trying to foist on the chinese economy destroy their own.

The end.

Edited by OnlyMe

Share this post


Link to post
Share on other sites

http://www.zerohedge.com/article/chinese-real-estate-bubble-pops-beijing-real-estate-prices-plunge-27-one-month

Wow if that figure is anywhere near accurate that's one hell of a monthly house price crash. I expect China's monetary policy to be swing about by 180 degrees and is about to become somewhat looser!

Just for fun what would that figure be if annualised :)

If prices fell 27% MoM over one year that would mean a YoY fall of a mere 97.7%.

Or, that is to say that, if a house worth £1 at beginning of the year fell 27% in value month after month, after 13 months it wouldn't be worth tuppence ha'penny.

Edited by Dave Spart

Share this post


Link to post
Share on other sites

As said last time inflation hit 21% this happened

Using the old measure (the non statistically manipulated one) the US already has inflation of nearly 10%, plus 40 million on food stamps, the dollar is falling towards the break point and it is getting worse by the day.

Edited by OnlyMe

Share this post


Link to post
Share on other sites

If prices fell 27% MoM over one year that would mean a YoY fall of a mere 97.7%.

Or, that is to say that, if a house worth £1 at beginning of the year fell 27% in value month after month, after 13 months it wouldn't be worth tuppence ha'penny.

Thanks I had wondered if it was near a 100% fall, it would appear I was miles off.

Share this post


Link to post
Share on other sites

As said last time inflation hit 21% this happened

Last time inflation hit 20% in the UK this happened

Margaret_Thatcher_25.jpg

I think I'd prefer to be facing the tank

Share this post


Link to post
Share on other sites

I think I'd prefer to be facing the tank

Even in that blue jacket?

fnar fnar

Edited by the.ciscokid

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.