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Anonymous

Hey I am on Medialย โ€ขย 8m

China's new home prices have experienced a significant decline, with June 2024 marking the steepest drop in nine yearsโ€”a 4.5% year-on-year fall, the largest since June 2015. Despite multiple government interventions, the property market remains under pressure, with prices continuing to fall for several months in a row, signaling an extended downturn. The Chinese government has introduced several strategies to stabilize the market, including: ๐Ÿ‘‰ Urging local governments to purchase unsold homes and convert them into affordable housing. ๐Ÿ‘‰ Providing loans through the People's Bank of China (PBOC) to support these purchases, with 300 billion yuan ($41.5 billion) allocated for this purpose. ๐Ÿ‘‰ Adjusting mortgage rates, lowering down-payment requirements, and easing other purchasing rules to boost demand.

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