After years of housing prices gone wild, China's property bubble is starting to deflate, the Wall Street Journal reports
Residential prices are heading downward in some major cities, damping some undesired real-estate speculation but raising the prospect that the Chinese economy may slow more rapidly than anticipated with profound consequences for global growth.
Real estate is a foundation of China's phenomenal growth record in the past two decades, and its health is crucial to China's construction, steel and cement sectors. Real estate is also a favored investment of Chinese looking to get better returns than bank deposits pay. Local municipalities and provinces depend on rising ….
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http://online.wsj.com/article/SB10001424052702304906004576367121835831168.html?mod=WSJ_article_forsub
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