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<CN Home>JPM Expects CN Home Prices to Not Stabilise Until 2025; Refinancing Existing Mortgages Will Not Help Stimulate Demand
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Foreign media reported that Zhu Haibin, Chief China economist at JPMorgan, said China's property market will continue to be weak because the effects of government stimulus and support measures are not satisfactory. He believed the home market crash is not yet over and projected property prices in China to not stabilise until next year at the earliest. It was previously rumoured that China was considering to allow refinancing of existing housing loans, which totalled up to RMB38T, in order to reduce the debt burden of residents. However, analysts were sceptical that such measures would be effective in stimulating demand for purchases. Zhu commented that such refinancing will do little to stimulate demand for housing, as the main beneficiaries will be existing homeowners. AAStocks Financial News |
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