.. and not only for weather, as I look out from the back of the hotel on the 8th floor over Dameisha at 7am in the morning. The Wall Street Journal reported on Feb 1 from Shanghai that the average housing price in 100 major Chinese cities fell for a fifth consecutive month in January as China’s property market continued to slow. But look at the graph : the declines are fractions of a percentage, and seem to decline at a steady pace. So not a sharp plunge in the Chinese real estate market for now.
Turning to the US real estate market, check out the S&P/Case-Shiller 10 city Index, a graph I found at http://www.housingviews.com. Home prices are down some 30% from the peak in late 2005. And there is no bottom in home values yet .. even with 30-year mortgage rates at a record low.