The real estate market doesn't account for 30% of the economy. Though I suppose there's a bunch of way to measure "the economy".
There is pent up demand for housing yet property marketing is dropping. Actually it may have bottomed out but who knows. Beijing wants to correct it and that's what's been happening.
I have property in tier 1 and tier 2, it dropped to pre covid levels. I wasn't doing property for quick flips but I definitely noticed it.
The scars of covid are everywhere in China just like most countries. its going to take a while for it to recover. just like everywhere else.
China collapse remains a click bait dream for the time being if you ask me.
I know what happens. I put on a bunch of weight, the automatic immigration gate wouldn't let me through and I got sent to the desk with a person. they told me it was because my face has changed too much grin they made a new picture and I was fine after that.
I lost a bunch of weight recently and while the machines let me in they wouldn't let me out without going to the big desk again for a new photo.