I will just say that China is being used as a Boogie man. They still have more collateral in real wealth and resources to sell off if they need cash. Canada is in much worse shape with housing increases up at around 300% over a 10 year period in places such as Vancouver. Canada has dirty oil with bearish America as its only buyer and no sizeable collateral to off set needed cash infusions if needed. Toronto for a long stretch had more construction activity then fuking Dubai and yet nobody really talks about it. Canada has the most lopsided real estate market in the developed world. Are media does a good job of keeping people dillusional that they won't loose money if they buy a house. I've lost friends trying to give them housing data to get them to rethink getting into the market now and just hang out a bit. Some have even admitted I was right but still jump in due to family and peer pressure its amazing.
In Canada if out housing bubble pops (and already showing signs it has) we collectivity are looking at a hole of $800 Billion dollars. Sure China's numbers are more buzz worthy and massive but on a real per-capita basis its nothing compared to the mess we are in here. China's housing debt isn't almost 60% relative to their GDP... in Canada it is. China also has the ability to rush in at any time and fix the issue due to its control on everything internal. In Canada we are slaved to 5 huge private Banks that have put a massive tab on taxpayers that we have to pay once prices tank.
China puts everything into perspective long term. Many nomad cities of a few years have a shit ton of people living in them now. They do things different and I think we in the West like to poke fun at their style since they any time they do fuck up the numbers are just so large and astonishing. I am not worried about China as Canada's market will be in the toilet before Chinas will. China's actual RE projects many have been strategic tied together by... yes... speculation but also strategic military policy that nobody likes to talk about either. When China decides to go all in with it's chips in the eventual (and inevitable) conflict with the West, Japan and America for sole regional (global?... IMO NO) domination it intended those ghost cities to house people if Shanghai or Guangzhou get carpet bombed.
China still has the most gold holdings globally and it has the largest human resource capacity of nearly 300-500Million +/- of labour to utilize. All of this has real tangible value that we in the west with our hot air and monopoly money do not have. Japan, the UK, USA, Canada, etc would dream to have the mess China has now because they can realistically dig themselves out of it, with legitimate and real capacities versus the tapped out and imaginative capacities we have here in the west.
China's bigger issue is making sure its millions upon millions of single Men can get laid, and deter them from thinking revolution and full scale revolt. That pent-up sexual tension those men have... that will ruin China before this real estate bubble does. Not worried.
In Canada if out housing bubble pops (and already showing signs it has) we collectivity are looking at a hole of $800 Billion dollars. Sure China's numbers are more buzz worthy and massive but on a real per-capita basis its nothing compared to the mess we are in here. China's housing debt isn't almost 60% relative to their GDP... in Canada it is. China also has the ability to rush in at any time and fix the issue due to its control on everything internal. In Canada we are slaved to 5 huge private Banks that have put a massive tab on taxpayers that we have to pay once prices tank.
China puts everything into perspective long term. Many nomad cities of a few years have a shit ton of people living in them now. They do things different and I think we in the West like to poke fun at their style since they any time they do fuck up the numbers are just so large and astonishing. I am not worried about China as Canada's market will be in the toilet before Chinas will. China's actual RE projects many have been strategic tied together by... yes... speculation but also strategic military policy that nobody likes to talk about either. When China decides to go all in with it's chips in the eventual (and inevitable) conflict with the West, Japan and America for sole regional (global?... IMO NO) domination it intended those ghost cities to house people if Shanghai or Guangzhou get carpet bombed.
China still has the most gold holdings globally and it has the largest human resource capacity of nearly 300-500Million +/- of labour to utilize. All of this has real tangible value that we in the west with our hot air and monopoly money do not have. Japan, the UK, USA, Canada, etc would dream to have the mess China has now because they can realistically dig themselves out of it, with legitimate and real capacities versus the tapped out and imaginative capacities we have here in the west.
China's bigger issue is making sure its millions upon millions of single Men can get laid, and deter them from thinking revolution and full scale revolt. That pent-up sexual tension those men have... that will ruin China before this real estate bubble does. Not worried.