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CICHF - Coronavirus May Be The Catalyst That Will Pop China's Massive Property Bubble
China Construction Bank Corp
Admittedly, I've been bearish on the Chinese economy for nearly two years. The nation's economy, and specifically its banking system, is propped up by its highly speculative real estate and construction sector which is poised to burst. The PBOC has "kicked the can down the road" for years (only to make it worse), but they cannot stop the impact of Coronavirus.
From almost all valuation metrics, the ongoing Chinese property bubble makes the U.S housing bubble look like peas. To review, most homes and apartments in China cost 20-40 years' worth of income for a