The Disease Spreads: Sales Price of New Homes Decline In China

We spotted this today:

"The sales price of new homes decline in China in August as the government high interest rates and other measures take their intended toll on the red hot real estate market, China Daily reported Sunday. The National Bureau of Statistics, or NBS, showed that 46 cities out of the statistical pool of 70 saw new home prices drop or at best remain unchanged from July’s sales figures. Just 31 cities saw marked declines in new home prices in July, the China Daily said about the NBS report."

Statistics Source: Forbes