Sunday, March 18, 2012

The Chinese Economic Crash Continues to Develop

Home prices in nearly two-thirds of China’s major cities fell in February from the previous month, reports FT.

Beijing’s National Bureau of Statistics (NBS) said on Sunday that 45 out of 70 large and midsized cities tracked by the government saw a fall in new home prices month-on-month in February.

On a year-on-year basis, 27 cities saw new home price declines in February, up from 15 in January.

This is only the start. China is an economic wreck, with massive phony government planned projects that are basically useless but were recorded as part of China's "growth".

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