China’s housing market continues to decline despite stimulus

China's housing market continues to decline despite aggressive government stimulus measures. Home prices in major cities fell faster in May, reflecting ongoing challenges for the world's second-largest economy. The Chinese government has increased support for housing and other industries, but recent data show persistent caution among businesses and consumers. Home prices are falling at an accelerating rate, and while fixed-asset investment and industrial production are growing, their momentum has slowed. China's National Bureau of Statistics reported a 4.3% drop in new-home prices in May compared to the previous year, worse than ...