Housing boom ending in China?

From today’s Shanghai Daily, the English-language daily, it appears that even China’s housing boom is slowing down (story here).  Of course, that doesn’t mean that prices are falling…

THE average property price in 70 major Chinese mainland cities failed to post a month-on-month gain in June…, although the price was 8.2 percent higher than a year earlier.  (emphasis mine)

Per the article, apparently the Chinese government has tightened lending requirements and bank reserve requirements to take some air out of the bubble.

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