GUANGZHOU -- Smaller regional cities are dealing with the worst effects of China's housing market woes, as years' worth of excess inventory weighs heavily on the private developers that have focused on those areas.
Country Garden, Evergrande pay for aggressive regional expansion

A Country Garden Holdings showroom in Shaoguan was short on customers during the Lunar New Year holiday. (Photo by Takashi Kawakami)
GUANGZHOU -- Smaller regional cities are dealing with the worst effects of China's housing market woes, as years' worth of excess inventory weighs heavily on the private developers that have focused on those areas.