Fast forward a little over three years, when China’s housing bubble is bigger than ever, and now the WSJ has picked up on what we said three years ago, namely that China’s epic housing market is perhaps the world’s most defining bubble, and more importantly, not even the covid pandemic did anything to threaten the sanctity of this bubble.
Some more statistics: “the total value of Chinese homes and developers’ inventory hit $52 trillion in 2019, according to Goldman Sachs, twice the size of the U.S. residential market and outstripping even the entire U.S. bond market.” China’s housing market is certainly bigger than the US stock market, and at its current growth rate will surpass the total value of all global stocks (which is currently about $85 trillion) in just a few years.
https://www.zerohedge.com/markets/look-inside-52-trillion-bubble-has-hijacked-chinas-economy
