Chinese housing demand to drop by 50 percent. Bloodbath continues in Chinse stocks.

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  • Demand for new housing in China is set to drop by around 50% over the next decade, making it harder for Beijing to quickly bolster the country’s overall growth.
  • That’s according to the International Monetary Fund’s latest staff report on China, completed in late December and released Friday.
  • The prediction for a roughly 50% drop in new housing “overestimates the possible market downturn,” Zhengxin Zhang, China’s representative to the IMF, said in a Jan. 10 statement.
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BEIJING — Demand for new housing in China is set to drop by around 50% over the next decade, making it harder for Beijing to quickly bolster the country’s overall growth.

That’s according to the International Monetary Fund’s latest staff report on China, completed in late December and released Friday.

The IMF said it expects “fundamental demand for new housing” in China to fall 35% to 55% due to a decline in new urban households and a large inventory of unfinished or vacant properties.

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https://www.cnbc.com/2024/02/02/imf-chinas-new-housing-demand-to-drop-by-50percent-in-the-next-decade.html