> Will this be the Chinese version of Japan's real-estate crash of the '90s...?
If we are lucky? Otherwise, it could be much worse than that. Vancouver, the Bay Area, and LA got hit hard by Japan's real estate crash, I wonder if history will repeat?
Too soon to say. Policy plays a big roles here and chinese policy debates are mysterious. It's possible they want to crash the real estate market, and reverse out of the appreciating real estate setup. Trade off between middle class wealth accumulation and housing affordability.
They're currently reversing out of the college cram school thing. There's some sort of similarity here.
If we are lucky? Otherwise, it could be much worse than that. Vancouver, the Bay Area, and LA got hit hard by Japan's real estate crash, I wonder if history will repeat?