Home prices in mainland China are expected to fall for at least another two years as more people prefer renting over buying, John Lam says.

John Lam, UBS’ head of China property research and a long-time contrarian, is retreating from his earlier bullish calls and joining his Wall Street peers in predicting that the country’s four-year real estate downturn is far from over. Lam said he expected home prices to fall for at least another two years before a recovery in mainland China’s beleaguered residential property market could take hold. One reason was that potential buyers were increasingly opting to rent properties while prices…

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