China’s Housing Index Falls Below 2005 Levels, Wiping Out Two Decades of Gains
China’s residential price index dropped to 85.13 in Q1 2026, erasing inflation‑adjusted gains accumulated since 2005. The slump, now 35 months long, is cutting about two percentage points from GDP growth and slashing local‑government land‑sale revenue, with knock‑on effects on global cement and steel demand.