August Price Drop Worst in 10 Years

Chinese media have dubbed the August price drop the worst in 10 years due to its nationwide scope. 8月房价环比跌幅近十年最大 降价潮或持续

China's real estate industry at its lowest point since 2008. 中国楼市多项数据已跌到08年来最低点

The second article also mentions the second round of bailouts now under way in Sichuan, Fujian and Hubei, using tax rebates, subsidies and credit easing. The oft quoted Zhang Dawei of Centaline called the credit easing policies interesting, since local governments have zero control over banking policies.