The Traderszone Network

Published in TZ Latest News 20 May, 2017 by The TZ Newswire Staff

"An Empty Lot, An Idle Backhoe And Pieces of Rubble": NYC Real-Estate Market Is Imploding

The stringent capital controls adopted by Chinese authorities on Jan. 1, some of which were specifically designed to curb foreign real-estate purchases, appear to have had their desired effect. To wit: First-quarter property sales plummeted 58% to $4.3 billion, compared with a year earlier, Bloomberg reported, citing data from real-estate brokerage Cushman & Wakefield Inc.

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