"China’s great real-estate bust has begun, says NOMURA. A combination of a huge oversupply of housing and a shortage of developer financing is producing a housing market downturn that could drive China’s GDP to less than 6% this year.
“To us, it is no longer a question of ‘if’ but rather ‘how severe’ the property market correction will be,” three Nomura analysts wrote in a report released Monday. And there isn’t much the government can do to head off problems.
“There is no policy that is universally right,” says Nomura analyst Zhiwei Zhang"
