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Practically every point in Conservative Party leader Pierre Poilievre’s story about housing affordability and debt—captured in two recent ‘mini-documentary’ films released across his social media channels—sounds compelling until one bothers to look up the claim. When one does, however, that same point turns into evidence Poilievre is proposing national economic suicide.
AFTER more than a decade of overbuilding and overborrowing, the moment of reckoning is here for China’s real-estate market. Sales are down, prices are down, construction is down, developers are defaulting, and contagion is spreading to the shadow-banking sector. A Goldilocks outcome remains possible. Sales have fallen so far that…