Michael Hennessy, Managing Director at Morgan Creek Capital Management, has penned an interesting piece entitled, "China: A Real Estate Bubble, Or No Trouble?"
In it, he dives into the hot debate and notes that China's situation is different than the US in that it was fueled by public development whereas the US was fueled by private development.
In the end, Hennessy concludes that, "it is clear that China's economy is slowing; however, this seems to be fully discounted in valuations, and rather severely at that."
Kynikos Associates' Jim Chanos has been an outspoken bear on China (and in particular their property market). We've also posted up the hedge fund bear thesis on China.
Below are Hennessy's thoughts on whether or not China is a real estate bubble:
Hat tip to Zach for digging this up.
Tuesday, September 18, 2012
Morgan Creek Capital Asks: Is China A Real Estate Bubble?
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