Sumary of A housing crisis in China would look nothing like what's happening in the US — it could wipe out entire families instead of one generation:
- And as China contends with the potential default of Evergrande — one of the country’s largest property developers — a housing crisis looms ever closer on the horizon.
- Bruce Bisping/Star Tribune via Getty Images China’s housing crisis: Everyone — and their family — is implicatedHomeownership rates in China are high.
- That’s why, in a worst-case housing-market scenario in China, it’s not a generation that would get wiped out, Sun said: It’s families.
- “That means that if there were an issue in the housing market — say, a massive real-estate developer with $300 billion in debt, missed bond repayment deadlines, and strong signs of contagion risk — what would be triggered wouldn’t be a wave of bank defaults.