China home prices plunge the most in 8 years
China
(ZEROHEDGE) – While China keeps regurgitating the same tired and trite line about an "imminent" fiscal and housing stimulus, which reportedly is in the "trillions" of yuan, yet which to date is entirely imaginary and never actually materalizes, its housing market continues to crater and will soon reach a point where a depression is unavoidable ... at which point the all too real stimulus to reboot the economy will be in the tens of trillions.
Overnight, China's National Bureau of Statistics reported that last month, China's home prices fell the most in eight years, signaling the property slump is worsening even after the government ramped up efforts to revive demand. In fact, one can argue that central planning is merely doing what it always does: makes the situation even worse.
New-home prices in 70 cities, excluding state-subsidized housing, declined 0.38% last month from September, when they dropped 0.3%, official figures showed Thursday. The decrease was the steepest since February 2015.
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