[Tade0]

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]

Why is the cost in 2010 the maximum limit for affordability? Chinese household income has (supposedly) increased significantly over that time.

[Tade0]

The price to income ratio is actually more damning:

https://en.macromicro.me/series/5433/china-housing-price-to-...

Considering the absolute number houses in China were not affordable at any point in recent history.

2010 is often cited as a reference point, most likely because it's when the Chinese stock market started experiencing a slump despite the initial post-2008 recovery, so investments shifted into real estate:

https://www.macrotrends.net/2592/shanghai-composite-index-ch...