China's Housing Crisis Has a Long Road to Recovery

02/21/23 • 18 min

China's freewheeling real estate market has been the powerful engine of its economic growth. But a parade of missteps -- including a debt binge and a lack of oversight -- has turned that growth story upside down. Across China, swaths of unfinished homes gather dust. Cash-strapped developers remain mired in default while millions of middle-class home buyers cope with lost fortunes and dashed hopes. Would tighter regulation have staved off such a debacle? How does China's housing crisis compare to the US crash of 2007? Can its residential real estate market ever recover? Join hosts John Lee, Tom Corbett and Kristy Hung, senior property analyst at Bloomberg Intelligence as they discuss what's next for China's housing market.

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Asia Centric by Bloomberg Intelligence - China's Housing Crisis Has a Long Road to Recovery

Transcript

Speaker 100:00:02.160

You're listening to Asia Centric from Bloomberg Intelligence, the podcast that pulls back the curtain on global business so you can invest better across the Pacific rim. I'm Tom Corbett in Hong Kong and I'm John Lee owning a home in China. It's a mark of accomplishment of status and security. Millions of middle class Chinese families have lost fortunes during China's housing crisis. Hopeful buyers paid for these homes they can't live in because c