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Doug Noland: The Latest on China’s Mortgage Finance Bubble

Sunday, October 23, 2016 0:10
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(Before It's News)

wallstreetexaminer.com / by Doug Noland • 

This is a syndicated repost courtesy of Credit Bubble Bulletin. To view original, click here. Reposted with permission.

It’s been a full seven days since a CBB focused on China… Important – confirmation of the thesis – data again this week.

October 21 – Reuters (Yawen Chen and Nicholas Heath): “China’s new home prices rose in September at the fastest rate on record as buyers rushed to close contracts before new restrictive measures took effect in October. The boom in sales and prices was evident in mortgage lending, with new housing loans to individuals totaling 475.9 billion yuan in September alone, some 76% higher than the same month last year… Prices in China’s 70 major cities rose 11.2% in September from a year earlier, accelerating from a 9.2% increase in August, as 64 of them saw year-on-year price gains…”

Year-on-year prices were up 34.1% in Shenzhen, 32.7% in Shanghai, and 27.8% in Beijing.

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The post Doug Noland: The Latest on China’s Mortgage Finance Bubble appeared first on Silver For The People.

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