Shakeup or Shakedown? China's New Red Economy
The Little Red Podcast
Is There an Argument That the Chinese Property Sector Is Overvalued?
Households that have purchased homes recently have used up a lot of their savings, and they don't have a lot of cash to spend on other things. But i think that's different than a systemic risk like we had in the united states,. where it was opposite, but then when prices went down, they were under water. Because chinese households are putting so much cash down, the risk of defaults is really, really low. We just know from global experience, including it honkonk, that even if prices go down, if you've got a lot ofcash in your home, that's the one thing that you really want a default on.
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