It’s Too Soon to Bet on China’s Housing Turnaround
China’s troubled property market remains on shaky ground despite a raft of government policies to stabilize it—and a big jump in property developer stocks today. Beijing still needs much more forceful measures if it wants to turn around the market and stabilize the economy.Residential home sales in China kept contracting last month, data released Wednesday showed. They fell 3.7% year-over-year in the first 10 months of 2023, compared with a 3.2% decline in the first nine. Property investment also remains depressed: It dropped 9.3% over the same period.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8