China is slowing down. Most of their wealth is in real estate and yet their market rests upon a fragile foundation. There are only so many empty cities that can be built. Only so many bridges to nowhere. This unsustainable path is failing. Today, we see a record level of stimulus injected into the markets, tax incentives, easy money from the banking system, and still slower growth than expected. This house of cards will collapse.
Bloomberg on Twitter: "A fifth of China's homes are empty. That's 50 million apartments https://t.co/nf2iKJNFLX"
