China’s Households “Massively” Exposed To Housing Bubble “That Has To Burst”

Meet the “fang nu” or Chinese housing slaves.

(From Zerohedge.com)

“The Chinese housing market is clearly oversupplied,” said Gan. “Existing housing stock is sufficient for every household to own one home, and we are supplying about 15 million new units a year. The housing bubble has to burst. No one knows when.” When it does, the hit to household wealth will have a long term negative impact on consumption, he said.

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