China's property market is experiencing a severe downturn with declining sales of new homes and high mortgage rates. Sales of existing homes in the US also fell, despite an increase in available homes. Shanghai has implemented measures to ease home purchase rules, including lowering mortgage rates and down payment ratios. The government in China is exploring solutions such as state-owned enterprises buying unsold properties for affordable housing. However, these efforts are facing challenges and may not have a significant impact on the market.
China’s big housing rescue aims to build on smaller efforts that are already under way – and struggling to get traction https://t.co/9O4ZBTzO4j
Home Buyers Are on the Move in Big Chinese Cities After Policy Easing https://t.co/grW6ZgVHHa
Struggling landlord SBB strikes a second financing deal as it seeks to stave off a funding crunch https://t.co/ScVifT21lJ
#Shanghai on Monday further lifted home purchasing restrictions to allow non-local, unmarried individuals to purchase second-hand homes within the outer ring of the city. #property https://t.co/NVkZbQUdE8
NTT Data Group is close to making an offer to buy Malaysia’s payments firm GHL Systems, sources say https://t.co/xGvia8EtnF
SHANGHAI CITY RELAXES SOME HOME PURCHASE RULES || LOWERS MORTGAGE FLOOR, DOWNPAYMENT RATIO
SHANGHAI TO ESTABLISH, IMPROVE HOUSING SECURITY SYSTEM, EXPLORE BUYING HOUSING THROUGH STATE-OWNED PLATFORM COMPANIES AND OTHER ENTITIES, AND OPTIMIZE THE SUPPLY OF HOUSING SECURITY
⚠️ SHANGHAI TO ESTABLISH, IMPROVE HOUSING SECURITY SYSTEM, EXPLORE BUYING HOUSING THROUGH STATE-OWNED PLATFORM COMPANIES AND OTHER ENTITIES, AND OPTIMIZE THE SUPPLY OF HOUSING SECURITY
⚠️ SHANGHAI CUTS LOWER LIMIT FOR INTEREST RATES ON FIRST HOME MORTGAGE TO LPR MINUS 45 BPS
⚠️ SHANGHAI ADJUSTS MINIMUM DOWN PAYMENT RATIO FOR FIRST HOME BUYERS TO NO LESS THAN 30% - LOCAL GOVT STATEMENT
⚠️ SHANGHAI ADJUSTS MINIMUM DOWN PAYMENT RATIO FOR FIRST HOME BUYERS TO NO LESS THAN 20% - LOCAL GOVT STATEMENT
🇨🇳 #China’s #Housing Rescue Has a Poor Track Record in Pilot Cities – Bloomberg https://t.co/ORcVXVbKbw https://t.co/l0rMfhYXiF
China’s government wants state-owned enterprises to step in to buy unsold property and turn it into affordable housing. But its new policy will make only a modest contribution to solving the problem: https://t.co/usN3OCiHXp Photo: Getty Images https://t.co/OIr7atUnHJ
China needs to look beyond real estate for sources of growth https://t.co/kX4D0yNLSi | opinion
New US real estate data shows sales of new and existing homes fell in April as mortgage rates remained high. The number of homes on the market is up 9%, but prices are still more than 40% higher than four years ago. https://t.co/SqSLw3xe3P
The decline in China’s sales of new homes accelerated in recent months, with households increasingly preferring to buy in the secondary market. https://t.co/VA9Hn2uNbk https://t.co/cxO2OM67UH
Sales of previously owned homes fell 1.9% in April from March to 4.14 million units, on a seasonally adjusted annualized basis, according to the National Association of Realtors. #NAREHS https://t.co/WHTdj3IWfd
Mortgage rates spiked from 3% to >7%. That should've sent home prices down, but it hasn't BUT then the cost of insurance, property taxes & maintenance surged, too. These should also reduce home prices What's the compelling argument that prices WON'T ultimately adjust downwards?
Hong Kong is set to record a month-to-month decline of 46 per cent and 31 per cent in new home and live-in home transactions SCMP
China's property market is in its worst downturn in recent history But there may be a golden lining to that... Thoughts + news: https://t.co/AvMELvwFrs https://t.co/vqg9kqae5h