5 Years On, China's Property Crisis Has No End in Sight

China’s Property Market: Explaining the Boom and Bust - https://thediplomat.com/2024/09/chinas-property-market-expla... - September 30th, 2024

Even China's 1.4 billion population can't fill all its vacant homes, former official says https://news.ycombinator.com/item?id=37633501 - September 2023

It's western MSM being intransigently retarded/alarmist. PRC RE was 15% of economy. Construction + downstream industries other 15%. The 15%+15% got added together for the 30% at some point for some reporting and became the number that gets regurgitated over time. In reality, RE got slapped by 3 Redlines (i.e. it was deliberate policy choice), it goes from 15%->12%. The other 15% of which a large but still subsect previously captured by RE got redirected elsewhere, i.e. massive renewable rollout. Net effect PRC now growing at 5% instead of 8% with speculative RE. Like 3% ain't nothing, it's "important". But it's "important" same way healthcare+downstream is 20% of US GDP and if a few % got shaved, it would be pretty bad for that sector but it's not end times for everything else, which is how these articles on PRC RE usually comes off.