China’s housing prices fell in October due primarily to falling prices in less developed, so-called Tier-3 cities, according to Goldman Sachs analysis of official data.Future Publishing | Future Publishing | Getty ImagesBEIJING — China’s real estate sector isn’t yet poised for a quick recovery, despite a rally this month in stocks of major property developers.That’s because recent support by Beijing don’t directly resolve the main problem of falling home sales and prices, analysts say.related investing news ‘Incredibly cheap’: Strategist says Chinese tech stocks, like Alibaba, are a clear buy right now5 hours agoLast week, property developer stocks surged after news the central bank and banking regulator issued measures that encouraged banks to help the real estate industry. It comes alongside other support measures earlier this month.Loading chart…Shares of Country Garden, the biggest Chinese developer by sales, have more than doubled in November, and those of Longfor have surged by about 90%. The stocks have already given back some of this month’s gains.Meanwhile, iron ore futures surged by about 16% this month — Morgan Stanley analysts say about 40% of China’s steel consumption is used in property construction.Loading chart…The situation is one of “strong expectations, but weak reality,” and market prices have deviated from the fundamentals, Sheng Mi …
