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12/17/2011 BEIJING — Falling home values. Debt-strapped borrowers. Real estate woes dogging the economy. It's old news in the United States, but now the air has started to leak from another great housing bubble — in China.

Home prices nationwide declined in November for the third consecutive month, according to an index of values in 100 major cities compiled by the
China Index Academy, an independent real estate firm. Average prices in the Shanghai area are down about 40 percent from their peak in mid-2009, to about $176,000 for a 1,000-square-foot home

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