China's house market is also affected by different cultural forces. It is almost impossible to marry without owning a house/condo. This forces a ton of young pe

China's house market is also affected by different cultural forces. It is almost impossible to marry without owning a house/condo. This forces a ton of young people to buy property who may otherwise rent. Also you are seeing the break up of multigenerational living situations into individual family units as you move from rural to urban living scenarios. Land and real estate are also a huge income shelters for Chinese elites. They cannot appear too wealthy, so they buy real estate to hide their wealth. Only recently, last 5 years, has China instituted a national real estate registry. I wonder how much of the market disruption of the last few years is due to large players trying to divest themselves.