UH-OH: THE CHINESE REAL ESTATE CRASH IS HERE

WE'VE BEEN WARNING ABOUT THIS FOR AT LEAST A YEAR.

NOW THAT GLENN HAS A DOUBLE POST ON IT, IT'S OFFICIAL:

CHANGE: China Property Dip Sparks Bank Fears. “The number of property transactions in China’s largest cities has fallen to dangerously low levels, according to regulatory documents obtained by the Financial Times.”

UPDATE: Property Prices Collapse in China. Is This a Crash? “Residential property prices are in freefall in China as developers race to meet revenue targets for the year in a quickly deteriorating market. The country’s largest builders began discounting homes in Shanghai, Beijing, and Shenzhen in recent weeks, and the trend has now spread to second- and third-tier cities such as Hangzhou, Hefei, and Chongqing.”

Posted at 11:51 pm by Glenn Reynolds

BRACE YOURSELVES.... A TSUNAMI IS COMING....