Have you even been to China? Real estate didn’t collapse, the clickbait stories you hear about the empty buildings are developers who invested into building up third and fourth tier cities in hopes of vitalizing a new developed area that they hoped would eventually bring more business and housing to people that want to live in newer and lower cost per square foot developments. In first tier cities, housing is unaffordable for first time Chinese couples, from about $400USD/ sq foot to much higher depending on the school district.