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I'm wondering if some of the price drops are a result of seasonality and owners who want to move their property fast as opposed to an actual dropping market. (Edit, yeah thats what I mean lazycash)
That being said.. technically real estate isn't supposed to "pop" like the stock market, simply because its not very liquid. Rather, its been described as slowly deflating. Owners rarely know the true value of the property until a buying actually has it.
I'm curious about the Chinese government's intervention in the market. We are seeing similar things happening in the US, with the rising of interest rates, and other moves such as the government raising the minimum credit card payments. Not really huge or extreme actions, but certainly trends to watch. For example, the Austrian school of economics argues that government intervention is what actually creates wild booms and busts in the market as opposed to wild speculation (which otherwise would not happen due to the lack of cheap credit, or would financially wipe out those involved.)
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