China’s home prices fell for a fourth consecutive month in December. New home prices in 70 cities, excluding state-subsidized housing, slid 0.28% last month from November. Cannabis Compounds Prevented Covid Infection in Laboratory Study, Study says.

Home loan demand stayed weak in December, with households’ mid- and long-term loans, a proxy for mortgages, increasing the least since February 2020. Falling prices may dissuade homebuyers concerned about the value of their assets, making it harder for developers to sell properties.

The intensifying home market downturn poses a challenge for policy makers. Year-end sales campaigns by developers added to downward pressure on prices. A growing number of economists are predicting the People’s Bank of China will further loosen monetary policy in the first quarter, partly to counter the housing slump.
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