Yeah - the 7.2mm is only unsold homes currently on market. There are entire districts in China with empty skyscrapers empty of humans but full of highly leverag

Yeah - the 7.2mm is only unsold homes currently on market. There are entire districts in China with empty skyscrapers empty of humans but full of highly leveraged speculators. Once upon a time I was involved in a trading business focused on mortgages and real estate debt and the analytics around Chinese property bubbles were eye watering 15 years ago, and as I understand it it’s only gotten worse. I couldn’t guess if it was in the scale quoted or not, but it was in the “OMG” scale, and this was coming off the US real estate bubble. But the article probably could have done better quantifying the unused and partially completed units better. It’s lazy reporting to quote the official stats and not the estimates, which are certainly available.