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China’s property market is going in 2 directions, says ex-PBOC advisor

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China's property market is showing signs of bifurcation: Former PBOC advisor

China’s real estate sector is going in “two directions,” and even though further stimulus is expected, a recovery will not likely happen soon, according to a former advisor to the People’s Bank of China.

“The property market right now in China is actually two-fold. It’s actually going into two directions,” Li Daokui, now a professor of economics at Tsinghua University, said Friday.

China’s property market has been rocked by faltering consumer confidence in real estate companies as property giants Evergrande and Country Garden face debt woes. Country Garden just narrowly avoided default while Evergrande has filed for bankruptcy protection.

China’s house prices slipped in July, falling 0.1%…



Source cnbc.com

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