[HDThoreaun]

You have misunderstood china's housing crisis. Its a financial crisis caused by mismanagement by the central government, not an oversupply of housing. The problem is that there are extremely limited investment opportunities in China because most companies are owned by the government. Without the ability to invest in equities the chinese turned to real estate creating a bubble, prices were completely divorced from utility. North america does not have a bubble, prices are high because supply is limited and people want houses, not because buyers think it is an amazing investment.

[bryanlarsen]

2008 was also about financial mismanagement.

[HDThoreaun]

Exactly, neither was because of "too much housing"

[bryanlarsen]

Which is what my original comment said. When a comment says "people say X", it's a statement saying "people are wrong".