This slowdown in the secondary industry is part of China's intentional shift toward an economy focused on services and consumer consumption rather than manufacturing.In 2016, we will see if this is rebalacing or a business cycle recession. If the latter, then the Chinese Recession Is Ready to Move Into Services.
Chu's point is that it's happening harder and faster than anyone thought it would.
"The Lock-In Effect of Rising Mortgage Rates"
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Today, in the Calculated Risk Real Estate Newsletter: "The Lock-In Effect
of Rising Mortgage Rates"
A brief excerpt:
Here is new working paper from Feder...
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