{"id":7421,"date":"2015-04-19T07:20:20","date_gmt":"2015-04-19T12:20:20","guid":{"rendered":"http:\/\/olduvai.ca\/?p=7421"},"modified":"2015-04-19T07:20:20","modified_gmt":"2015-04-19T12:20:20","slug":"why-the-record-drop-in-chinese-house-prices-suggests-beijing-is-already-in-a-recession","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=7421","title":{"rendered":"Why The Record Drop In Chinese House Prices Suggests Beijing Is Already In A Recession"},"content":{"rendered":"<h3 class=\"title\"><a href=\"http:\/\/www.zerohedge.com\/news\/2015-04-18\/why-record-drop-chinese-house-prices-suggests-beijing-already-recession\" target=\"_blank\">Why The Record Drop In Chinese House Prices Suggests Beijing Is Already In A Recession<\/a><\/h3>\n<p>Another month, and another confirmation that China&#8217;s hard landing is if not here, then likely mere months away.<\/p>\n<p>Overnight, the NBS reported that in March, Chinese house prices dropped in 69 of 70 cities compared to a year ago. According to Goldman&#8217;s seasonal adjustments, in March home prices dropped another 0.5% from February, the same as the prior month&#8217;s decline, suggesting that the<a href=\"http:\/\/www.zerohedge.com\/news\/2015-02-28\/china-cuts-interest-rates-takes-number-central-banks-easing-2015-21\">February 28 rate cut\u00a0<\/a>hasn&#8217;t done much to boost housing spirits.<\/p>\n<p>However, it is the annual data that truly stands out, because with a drop of 6.1% this was the biggest drop in Chinese house prices in history.<\/p>\n<p><a href=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user5\/imageroot\/2015\/04\/20150418_china2.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user5\/imageroot\/2015\/04\/20150418_china2_0.jpg\" alt=\"\" width=\"600\" height=\"341\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>To be sure, the PBOC is now scrambling to halt what, unless it is stopped, will become a full-blown hard landing in months, if it isn&#8217;t already. As a result, as shown in the chart below it has recently engaged in several easing steps, with many more to come according to the sell-side consensus. So far these have failed to stimulate the overall economy, which continues to be pressured by a deflation-importing world, but have certainly lead to a massive surge in the Chinese stock market.<\/p>\n<div>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Why The Record Drop In Chinese House Prices Suggests Beijing Is Already In A Recession Another month, and another confirmation that China&#8217;s hard landing is if not here, then likely mere months away. Overnight, the NBS reported that in March, Chinese house prices dropped in 69 of 70 cities compared to a year ago. According [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[130,2353,2694,2340,2914,2615,1264],"class_list":["post-7421","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-hard-landing","tag-house-prices","tag-housing-market","tag-pboc","tag-peoples-bank-of-china","tag-recession"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7421"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7421\/revisions"}],"predecessor-version":[{"id":7422,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7421\/revisions\/7422"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}