Loading ...Oops, not discussed much in China
Evergrande and three other large property companies in China are in big trouble. This clip is 3 weeks old.
I believe the SWHTF very shortly.
An interesting examination of the problem by Gravitas. I’ve heard of the massive Ghost cities before but…….
https://www.wionews.com/videos/gravitas-chinas-housing-bubble-set-to-pop-416677
The empty ghost cities were built, not to be lived in, but for parking savings.
Total market value of RRE is estimated at $62T, more than the US stock and bond mkts (so I’ve read, anyhow).
And valuations in China for these homes are 30-40x income, far beyond <10x in the most inflated US RRE markets.