Chinese Government Fails To Cool Housing Market

China property prices continued to rise in August, despite government efforts to cool the market.

Prices for new homes rose in 69 of 70 major cities. It is the fourth month in a row prices have risen in all but one of China’s biggest cities.

China has been trying to rein in property prices amid fears that asset bubbles may be forming in the country.

Analysts said the continued price rises could prompt authorities to take steps to reduce speculation in the market.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza