Agreed, but one thing to note on the Chinese real estate is that a lot of it is apparently "tofu dregs", so a good portion of the real estate is just a building waiting to fall down that you can crumble with your bare hands (lots of YouTube videos on this) and a lot of the supply is also in the middle of nowhere. So the supply is kind of not as much there as you would normally think. To use an analogy, does building a massive housing complex in the middle of the Mojave help American home prices come down?