China's housing bubble looks to be deflating
Chinas housing bubble appears to have deflated a little, with January home prices static or declining in 14 out of 15 cities, which suggests measures to calm the market are beginning to work. China has begun restricting mortgage loans and second-home purchases, along with discouraging developers from overbuilding on easy financing. Guangzhou was the only city to post a January rise, with prices up 0.6% on December. Prices in Beijing were unchanged month on month.

Fourteen of 15 Chinese cities recorded declines or no change in prices for new homes in January, with Guangzhou the sole holdout