From a CREIS report, Nationally, land sales in Q3 were 415.9 billion yuan, about equal to Q2, down nearly 50% yoy. Residential sales are down more than commercial. September land sales are down 70% yoy.
iFeng coverage: 三季度住宅价格继续下行 土地出让金下降五成
CREIS report:土地市场推出量环比减少46% 出让金降幅近半
From the report: Cumulative homes sales through the end of Q3, 10 major cities. Yellow line shows the change from last year. On the bright side, the report also shows many cities have seen sales volume pick up in the last week, ahead of the National Day week-long holiday. Still down yoy, but way up from the previous week.
Trump’s tax plan fail: More for the rich - Care of Elliott Clarke at Westpac: Ever since the GFC (if not many years before), financial conditions and taxation in the US has favoured wealthy househol...