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Home rents in China’s major cities climb for third consecutive month, Michael Pettis notes
Michael Pettis, economist, professor of finance, nonresident senior fellow, author, macroeconomic analyst at Peking University; Carnegie Endowment for International Peace, reports that China’s property market is continuing to split into distinct segments.
According to Pettis, referencing Yicai, overall home rents in China’s four first-tier cities increased by 0.16 percent in May, marking the third consecutive monthly rise and driven by demand from young job seekers.
Pettis has previously highlighted concerns about hidden bad debt in China's banking sector following the Huaxia Bank case. He also noted a widespread consensus among policymakers on the country's need to rebalance its economy in a recent assessment of structural challenges. The latest trends in housing rents arrive as these broader issues remain in focus.
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