Chinese families deciding against buying a home soared in the fourth quarter of 2022 | Forexlive
Reuters are reporting that the number of Chinese households that decided against buying a home soared in the fourth quarter of 2022, a private survey showed, as COVID infections and lockdowns sapped sentiment, while property foreclosures soared as the economy slowed.
The number of families opting to stay on the sidelines for property in the last quarter rose to 27.2% of respondents from 20.1% in July-October, the survey showed.
The future is bright(er) though, as…
16.6% of Chinese families had plans to buy a home in the coming three months, up from 7.0% in the July-October quarter.
This story ties in nicely with the comments I made here regarding the March 5th policy meeting