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Downward spiral turns: China's real estate market crash is not over yet, warns JPMorgan

Downward spiral turns: China's real estate market crash is not over yet, warns JPMorgan

China's struggling housing market will continue to weaken despite numerous government stimulus and support measures, according to an economist at JPMorgan.

β€œThe collapse of the real estate market is not over yet,” Haibin Zhu, chief economist for China at JPMorgan, told CNBCHe added that real estate prices will not stabilize until 2025 at the earliest.

The real estate crisis in China is becoming increasingly serious and is having far-reaching consequences for the entire economy. A key aspect of this crisis is the population's reluctance to spend.

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