I hang out on a lot of economics and investing subs. I think the timeline of western reporting on the Chinese real estate is something like this:
2000s: China has a massive real estate bubble that is 100% going to crash their economy
2010s: China is building ghost cities and that is totalitarian and shows how inefficient central planning is. Their economy is 100% going to collapse.
2020s: Ignored completely (many of these ghost cities are now full of upwardly mobile workers paying reasonable housing prices. The bubble deflated, which slowed the economy but didn't cause a massive crash and mass unemployment like in a free market economy)
That said, I'm not convinced housing in China is in great shape. It seems like that is one of the few places ordinary people can invest in private capital and so speculation will continue to be a problem as there is no where else to go? Interested to know more about what is happening now.
I hang out on a lot of economics and investing subs. I think the timeline of western reporting on the Chinese real estate is something like this:
2000s: China has a massive real estate bubble that is 100% going to crash their economy
2010s: China is building ghost cities and that is totalitarian and shows how inefficient central planning is. Their economy is 100% going to collapse.
2020s: Ignored completely (many of these ghost cities are now full of upwardly mobile workers paying reasonable housing prices. The bubble deflated, which slowed the economy but didn't cause a massive crash and mass unemployment like in a free market economy)
That said, I'm not convinced housing in China is in great shape. It seems like that is one of the few places ordinary people can invest in private capital and so speculation will continue to be a problem as there is no where else to go? Interested to know more about what is happening now.