The housing price data for August was released, and overall it is still the same, with no improvement. Except for Jilin, the remaining 69 cities are all falling. Beijing and Shanghai have been flat for two months, and in August they also joined the falling army.

The sales price of second-hand residential properties in first-tier cities fell by 0.9% month-on-month, 0.4 percentage points wider than last month; the sales price of second-hand residential properties in second- and third-tier cities fell by 1.0% and 0.9% month-on-month, 0.2 and 0.1 percentage points wider than last month, respectively. The decline has not only not slowed down, but accelerated. The most outrageous is Xiamen, which fell by 2.2% month-on-month and 14.6% year-on-year, and these are the official data. A 2.2% drop in housing prices in one month, how many months will it take for Xiamen locals to earn back this 2.2%? Another city that fell by 2% month-on-month is Huizhou, a second-tier city in Guangdong. Previously, it had been hyping the concept of Shenzhen spillover. Now Shenzhen is unable to take care of itself, and the cities around Shenzhen will only be worse. This is just like stock speculation. Once the leading stocks collapse, the second, third, and fourth dragons, which seem to have less gains and are cheaper, will only fall more.

Every time I published this table, someone would ask why Suzhou is not included? Isn't it good that it is not included? If the data is not released, it means that there is no decline. Otherwise, it is very annoying to look at it every month. The past two years have been a pleasant time for those who hold their money and wait and see, or plan to change from small to big to improve their living conditions. The part of the house price that falls every month is equivalent to 3-5 months of their salary. They can earn five years of free money by lying down for a year. However, those who work hard on the traditional path have been hit hard. Many people complained that if they had not worked so hard in the past few years, they would not have lost so much money now.

In short, the trend is still a typical downward wave, with no signs of improvement. It is recommended to continue to wait and see.