Home sales in China are seizing up as curbs on lending and worries about developers’ financial health deter house buyers, casting a pall over an industry that is central to the Chinese economy.
In recent days, numerous big developers have reported lower sales figures for September, with many showing year-over-year declines of more than 20% or 30%. That is a stark drop-off for a month that leads up to China’s Oct. 1 National Day holiday, whose promotions usually make this one of the strongest selling periods of the year.
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Source:" WSJ "