This has never happened before, ever.
Property mogul: “The biggest bubble in history.”
A “structural change”: capital flight in yuan.
The governor of the People’s Bank of China chimes in.
When will the Home Price Bubble blow up?
The pain will continue, with many more false-hope ups followed by brutal smack-downs, and more carriers cracking under their debt.
House price declines have caused uproars in China, which is exactly what authorities fear more than anything. But they also fear bubbles, having seen how they implode – and cause uproars.
Mandating top-down economic growth is not enough.
The hunt is on for Chinese buyers.
The Great Equalizer has arrived.