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As China's Housing Minister Admits There Is A Bubble, Axiom Warns "Sell Commodities Now"
After several months of slowing price growth across China's bubbly housing market, if mostly in the lower-tiered cities, last month we reported that China's National Bureau of Statistics confirmed that the latest Chinese housing bubble has finally popped, after housing prices across the 70 cities tracked by the NBS were up 12.7% Y/Y, below the 12.9% annual growth rate in November. This was the first deceleration in year-over-year housing price growth after 19 months of continued acceleration. Then, on Wednesday, China reported that after its November peak, January house prices decelerated again, and according to ... (full story)