“The end of China’s property bubble is more likely to lead to a slow grind downwards rather than a sudden collapse,”
I suppose this is a possibility. For many years now western media have been talking about a Lehman brothers moment but the liquidation of Evergrande in January 2024 - to my understanding - didn't create this effect on the markets. I guess if it had, we would have heard about it by now.
For people, the results of this real estate crisis are devastating, regardless. (relevant article)
I'm sure you're right about the people you mention, but they are not the ones I had in mind.
So, just to clarify, I was talking about everyday common people, like the young ones that are mentioned in the relevant article I linked above.
China’s Real Estate Crisis: Why the Younger Generation Is Not Buying Houses Anymore