Part 7/11:
As a result, an alarming amount of inventory—estimated at around 7.2 million unsold homes—has crippled confidence in the real estate market and undermined household wealth, which is heavily tied to property values. Recent regulatory measures by Chinese leadership aimed at deflating this $50 trillion real estate bubble hint at the severity of the threat now posed to the economy, launching a vicious cycle that could lead to a deeper recession.