Chinese property is not recovering

Friday 29 September 2023

The latest charts are from BofA which seems unable to read its own chart. Property sales are down year on year, up for second hand:

The land auction premiums says it all about L-shaped recovery:

Instracuture bonds are down sharply year on year as well:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.