China housing slump sparks fears for economy

[BlueKelah]

BEIJING (AP) -- Six months ago, China's housing market was so red-hot that Feng Xiaowei, a sales manager at a real estate agency in the eastern city of Hangzhou, rarely took a day off.

Then lending and sales curbs imposed by the government to cool soaring housing costs started to bite and business evaporated. Now Feng and the seven salespeople he supervises spend the day playing cards.

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