China’s massive housing bubble now imploding; economic collapse likely to spread globally
by: J. D. Heyes
NaturalNews.com
Wednesday, April 15, 2015
Is China getting ready to experience the very same housing collapse that triggered the Great Recession in the United States beginning at the end of 2007? Actually, China’s housing bust may be worse, according to recently released data.
As reported by Tyler Durden at Zero Hedge, Chinese home values are plunging at a faster rate than did American homes following the bursting of the subprime mortgage bubble at the outset of the Great Recession.
The web site noted that in early March the People’s Bank of China, the country’s central bank – which has the power to control monetary policy while regulating all other Chinese financial institutions – announced a surprise rate cut. At the same time, the site posted a chart “that should scare everyone who is hoping that China will avoid a hard landing” – one that shows “the annual collapse in Chinese home prices is now so sharp and so widespread, that it has surpassed the housing collapse in the aftermath of the Lehman [Bros.] collapse.”
Income, value, commodities, trade, real estate – all down
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