China’s Deepening Property Slump Signals Weakness of Economy

Ex-Chinese finance minister says the housing bust will take at least five years to fix, locking in weaker growth and gloomy consumer sentiment.

Deserted villas in a suburb of Shenyang in northeastern Liaoning Province, China, on March 31, 2023 Jade Gao/AFP via Getty Images

News Analysis

China’s housing market had another very weak month in October, with price declines even steeper than in September.