The Chinese property bubble is now bigger than the U.S. housing bubble that led to the Great Recession.

via theweek:

The “world’s biggest asset bubble” just keeps growing amid the coronavirus pandemic, The Wall Street Journal reports.

A new report in the Journal delves into how a property boom in China has “resumed its relentless upward climb” following COVID-19 lockdowns earlier this year. In fact, according to the report, investors sank more into Chinese real estate last month than ever before. Housing sales in China initially took a dive at the start of 2020.