China's Housing Market Slump Deepens as Home Prices Fall Sharply and Construction Stalls
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New home prices in China fell the most since early 2015 as demand continues to slump.
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Prices fell in 56 cities in October, with tier 1 cities like Beijing and Shanghai seeing declines.
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Property investment and sales have also contracted, despite government measures to support the market.
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Analysts say the market has yet to bottom out, with issues like stalled construction that could spark social unrest.
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Around 20 million pre-sold homes are at risk of not being delivered, with billions needed to complete them.