China property in bear market, says analyst

[SINGAPORE] Even as new home prices in Chinese cities continue its upward trend, Andy Xie, an independent analyst and formerly Asia economist for Morgan Stanley, maintained that China has entered a property bear market - one that he predicts will last for five years.

"Earlier this year, there was a bounce . . . after a (price) correction, people on the sidelines will start buying because there is some pent-up demand. So you will see prices pop up again . . . but I don't think it's the start of a new trend as some people describe," sai…