China’s falling real-estate prices trigger protests, clashes, page-2

China's Property collapse

Yes looks like it is finally starting to happen. The IO price is well down also. This may well be because building has almost come to a standstill in China and consequently they are not buying nearly as much IO from Australia. This will have flow on affects in Australia with job losses in most of the Coal and IO miners in Australia. How much of a flow on is anybody's guess.
The thing is this will also affect Australia's property market as well. There is a lot of leverage in a lot of these buyers in Australia and China and this will knock the crap out of them eventually.