He really ought to worry about the granddaddy of all real estate bubbles. China has squandered over $1 trillion of capital building whole cities of apartments, retail space and public facilities. They sit empty and deteriorating with no return on investment. Also most of its urban real estate, upon which huge loans have been made, is greatly overvalued. The communist state planners have made some huge mistakes and those mistakes may be what brings them down.
Tear down this China Wall.