Moody's says a sharper than expected property downturn in China could shave off 1.5-2 pct points off the country's GDP growth.
China's Property Market Is No Bubble: A correction is coming, but not a crash. http://on.wsj.com/1rP7djG
by Yukon HuangCHINA NEWS
China Average Housing Prices Fall for Third Straight Month
Chinese Average New Home Prices Down 0.8% in July, Indicating Grim Prospects for Housing
Updated July 31, 2014 12:00 p.m. ET
By ESTHER FUNG
SHANGHAI—China's average housing prices fell in July for the third consecutive month, an accelerating decline that seemed to indicate prospects for the housing sector remain grim.
Under pressure to sell homes quickly amid a supply glut, property developers are cutting prices to lure customers. But many home buyers remain uncertain and are waiting for further reductions, data provider China Real Estate Index System said Thursday....
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