🚨BREAKING: China's new home prices just logged their 35th consecutive month of decline.

Not a typo. Nearly three straight years of falling prices, no bounce, no floor.
Prices are now down roughly 40% from the 2021 peak. Inventory still sits 45% above pre-downturn averages. Beijing, Shenzhen, and Guangzhou are all still red. Only Shanghai is holding, and even that is decelerating.
The part that should worry people more than the price chart: Beijing's own policy stance is described as "support, not stimulus." They are managing the decline, not reversing it.
This is what a credit driven asset deflating in slow motion actually looks like.