Problem For Chinese Real Estate Isn't A Bubble, It's An Economic Slowdown

Since China's economy relies on real estate, I'm not sure if saying the real estate is suffering due to an economic slowdown isn't a tautology, but here we are.

Former director of the Institute of Fiscal Science, Jia Kang said that the actual level of urbanization in China is currently less than 40% to 70% of the way to develop, in this stage of rapid development, the real estate industry is a pillar industry inevitable.

For the real estate "bubble," one said, he himself says, "In the past more than a year of adjustment, the real estate bubble has already been squeezed." The main problem now is not a bubble, but in the course of the economic downturn, the real estate industry differentiation, should receive the necessary institutional building and policy lead.

Emphasis in the original.

iFeng: 媒体称楼市发生变化信号已现 问题已不是泡沫