Home prices in China are at risk of a “significant decline” regardless of what happens to Evergrande Group, Bloomberg reports citing analysts at Citigroup.
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“It seems clear that even in an orderly restructuring, China’s real estate sector likely to face downward pressure.”
“While authorities try to limit lower prices of real estate due to panic sales by Evergrande, by implementing price floors, price controls usually don’t work.”
The note was titled “A bear market in Chinese property.”
“The consequences would be most pronounced in world commodity marketsas well as credit and currencies in the emerging world. “
“We fear that China’s slowdown will eventually have an impact on commodities, which are a key economic driver for many emerging economies.“.
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