Chinese property crash reaches terminal velocity

David Llewellyn-Smith

Monday 25 March 2024

There is no bottom for the world’s largest asset class. It can’t fall any faster than this:

I keep having to extend the bottom of my chart for the outlook of floor area starts:

And the downside for construction volumes remains preposterous:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.