China could feel the impact of its property crisis for the next 10 years, economist says

• The correction in China's property sector could end up lasting over 10 years, one economist says.
• That's due to a boatload of inventory still under construction, GROW Investment's Hao Hong said.
• Home sales in China dropped 16.5% year-over-year in 2023.

China could feel the effects of its property crisis for more than a decade, as it will take a long time to clear all the available and developing inventory in its housing market, according to one economist.