Housing prices cratered in China, because, yes, eventually supply catches up and then the ponzi schema has nowhere to go but down. Lots of people hold real estate thinking it's an investment just by itself, so it's been a vicious cycle of prices going up. But if you build enough supply, the market stops treating property that way.

I don't think the Chinese real estate market will ever truly "recover" to the Tulip Mania levels it hit before. Especially with a declining population.

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Tade0 8 hours ago | parent [-]

Currently the housing price index in China is at 115/100 points in reference to 2010 - down from a peak of 145 in 2021.

That is what, 15 years and counting of waiting for the market to return to affordability despite using more concrete every 2-3 years throughout this time than the US did in the entire 20th century?

To quote Kimberly Wilkins: ain't nobody got time for that

Now, inevitably, the pendulum went the other direction - people lost money and companies went bankrupt.

You can't play fast and loose like that with such a basic need as housing.

	▲	bpt3 7 hours ago \| parent [-]
		Why is the cost in 2010 the maximum limit for affordability? Chinese household income has (supposedly) increased significantly over that time.