This is going to crash the Australian real-estate bubble too. I remember all too well the Texas real-estate crash of the mid 1980's. Most real-estate lost 94-96% of their pre-crash values. That is right, real-estate sold for a few cents on the dollar. For cash, as mortgages were no longer available. Buildings were sold for their scrap materials value. Texas real-estate was no where near speculated up as high as Chinese, Australian, or Canadian real-estate is today.
https://finance.yahoo.com/news/analysis-chinas-house-cards-evergrande-141204893.html
https://www.apes.army/evergrande-collapse-imminent-300b-dollar-black-swan-trigger/
