For decades much of internal Chinese consumption has been fueled by government endorsed (sloppily) financed lending and approvals for real estate development. Not just apartment complexes, but often entire cities like the Yujipau Financial District, Tianjin (a fake and unfinished vacant Manhattan copy). (<a href="https://www.nytimes.com/2019/04/10/business/china-economy-debt-tianjin.html" target="_blank">https://www.nytimes.com/2019/04/10/business/china-economy-debt-tianjin.html</a>). Massive construction projects will fuel any economy.A few years ago, there were about 64 million unfinished or empty (unaffordable) apartment or condo units. It's likely that number is larger now.It will be interesting to see how China will rebalance an aging population, a shrinking economy, and persistent unfulfilled housing demand (and delivery).

For decades much of internal Chinese consumption has been fueled by government endorsed (sloppily) financed lending and approvals for real estate development. Not just apartment complexes, but often entire cities like the Yujipau Financial District, Tianjin (a fake and unfinished vacant Manhattan copy). (<a href="https://www.nytimes.com/2019/04/10/business/china-economy-debt-tianjin.html" target="_blank">https://www.nytimes.com/2019/04/10/business/china-economy-debt-tianjin.html</a>). Massive construction projects will fuel any economy.A few years ago, there were about 64 million unfinished or empty (unaffordable) apartment or condo units. It's likely that number is larger now.It will be interesting to see how China will rebalance an aging population, a shrinking economy, and persistent unfulfilled housing demand (and delivery).

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