‼️ 🏠 🇨🇳 China’s shift away from preselling homes toward completed-property sales could deepen pressure on already strained local government finances, Goldman Sachs economists warned. The change may further limit cash-starved developers’ ability to purchase land, prompting Goldman to raise its forecast for land-sale revenue declines to 30% from 20%. Local-government land-sale proceeds had already fallen 30.8% year-to-date through July, reaching 1.2 trillion yuan ($179 billion)
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