Delivering Global Macro Investment Insights

DeSaque Macro Research

DeSaque Macro Research Limited was formed by Said DeSaque in April 2012 with the view to delivering global macro investment insights aimed at providing new ideas to clients.

Said DeSaque has over 26 years of experience working as a professional economist in financial services. Prior to establishing DeSaque Macro Research, Said held positions as Senior Economist at Robert W Baird and William Blair. He began his career as a graduate at PaineWebber in 1986, where he eventually became Head of the London Economics Department.

Said takes a very keen interest in international relations, along with their implications for economic development. His research interests include the economic transformation of China and its implications for global capital markets, particularly in the United States. He is a member of Chatham House in London.

The US economy and capital markets have historically been Said’s main focus of attention. He frequently presents his views to institutional investors in diverse geographic locations. In recent years, Said has also been carefully monitoring economic developments in Asia, particularly China and Japan.

China's Housing Market: Heading Closer Towards an Eventual Bottom

Avoiding a Lost Decade: China’s Real Estate Adjustment Reaches Critical Juncture in 2024

Stabilising China's Residential Property Market Produces Unintended Consequences

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Macroeconomics

<ul>
<li>Structural changes in the housing market complicate efforts to stabilise conditions, including higher secondary home sales and the demise of developers' presale business models.</li>
<li>Excess housing development relative to demand over a prolonged period is a major reason for price declines. Despite recently announced government measures, there are no quick solutions to remedying imbalances.</li>
<li>Better perceptions about the broader economy are required before stable housing conditions return. The earliest point for a credible stabilisation to commence will be in June 2025.</li>
</ul>


Structural changes in the housing market complicate efforts to stabilise conditions, including higher secondary home sales and the demise of developers' presale business models.
Excess housing development relative to demand over a prolonged period is a major reason for price declines. Despite recently announced government measures, there are no quick solutions to remedying imbalances.
Better perceptions about the broader economy are required before stable housing conditions return. The earliest point for a credible stabilisation to commence will be in June 2025.


China Housing Stabilisation Delayed by Ongoing Structural Supply and Demand Shifts