Slump Shrinks China Housing Role’s as Growth Driver

(Bloomberg) — China’s prolonged housing slump means the real estate sector is driving less growth and contributing to the economic slowdown, according to research quantifying the extent of the damage.

Housing-related demand was an estimated 19.4% of final demand in the first nine months this year, according to estimates from Bloomberg Economics. That’s down from a recent peak of 24.2% in 2018, and it’s likely to continue dropping, the group forecast.