Posted by Danny Griffin on November - 8 - 2011

According to The China Daily, in September and October, only 10,743 homes were sold in Beijing, down a whopping 46% from last year. New home sales in the first 10 months totaled 69,079 units down 17.8% year over year, while existing home sales dropped 35.8% to 101,188 units. It should come as no surprise that rapidly rising residential real estate prices have accelerated both inflation and income inequality causing the