Home -> Law Blog Directory -> Bailout Blogs -> Calculated Risk

Bailout

: Calculated Risk

Rogoff sees "Collapse" in China's Property Market

By Anonymous

From Bloomberg: China Property Market Beginning Collapse That May Hit Banks, Rogoff Says (ht jb)

?You?re starting to see that collapse in property and it?s going to hit the banking system,? [Kenneth Rogoff, Harvard University professor and former chief economist of the IMF] said today [in an interview with Bloomberg Television in Hong Kong].
...
He also said that while recoveries across the global economy are ?very slow,? the danger of a return to recession isn?t ?elevated.?

It appears Rogoff is talking about a "collapse" in sales, but price frequently follows volume in real estate - so perhaps he is also talking about a steep decline in prices.

Note: Here is the weekly summary and a look ahead (with plenty of graphs from last week).

The Nikkei is off about 1.5% in early trading.

And from CNBC: Pre-Market Data shows the S&P 500 off over 1% (close to breaking under 1000) and Dow futures are off about 110 points.

Best to all.

Full post as published by Calculated Risk on July 06, 2010 (boomark / email).