Odd Lots: How Chinese Real Estate Became a Huge Bubble (Podcast)
Land is a weird asset. We need it to be affordable because everyone needs somewhere to live. But for many people, real estate is also their biggest store of wealth...
By Joe Weisenthal, Tracy Alloway · Bloomberg
Land is a weird asset. We need it to be affordable because everyone needs somewhere to live. But for many people, real estate is also their biggest store of wealth — a kind of national piggybank that fuels both personal fortunes and broader economies. Nowhere is that tension sharper than in China, where housing affordability remains a major challenge even as real estate has been a huge driver of wealth for households and companies alike. China’s policymakers have now spent years trying to let th