Oct
12
China’s Cooling Property Market May Risk Economic Growth
By-
High-profile tightening reverses two years of easing cycle
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A property downturn increases potential for a hard-landing
Actions by China’s policy makers to rein in property prices in the bubble-prone nation may prove so effective that the economy’s growth rate could be affected next year.
At least 21 cities have introduced purchase restrictions and toughened mortgage lending since late September, reversing two years of easing to support home buyers. Goldman Sachs Group Inc. says more tightening is likely to follow if prices keep soaring, while Citigroup Inc. estimates shrinking demand may lead sales volume to contract in the fourth quarter…
China’s Cooling Property Market May Risk Economic Growth
