3 ms·

Read it again chump. You need to-- oh wait, damn, you're right. Sorry. Try this instead. No real numbers, but perhaps a bit of inductive support: http://w

• nl 15y ago
  lol Residential real estate construction now accounts for nearly ten percent of the country's total GDP -- four percentage points higher than it did at the peak of the U.S. housing bubble in 2005. Bullish analysts have long argued that large-scale urbanization and rapidly rising incomes warrant such an extraordinary boom. 10% of total GDP is significant, but when the economy is growing at 10% a year[1] it can afford to drop quite a lot without necessarily causing an economic meltdown. To be clear - I'm not claiming that a drop in real estate prices won't cause problems for the entities involved in the Chinese real estate sector. What I am claiming is that it might not be as catastrophic as people expect based on the US experience. [1] http://www.google.com.au/publicdata/explore?ds=d5bncppjof8f9_&met_y=ny_gdp_mktp_kd_zg&idim=country:CHN&dl=en&hl=en&q=chinese+gdp+growth http://www.google.com.au/publicdata/explore?ds=d5bncppjof8f9...