Hi long time lurker, but I couldn't resist sharing this as it is truly fascinating.
I've recently been of the opinion that the slowdown in housing is China related; it's the only thing that can feasibly explain so many bubbles popping at once (London, Canada, Auz).
Then today I found this thread by what looks like UK real estate insider about Carney's China Scam:
But you say... "China only constituted < 10% of the demand, how can their exit cause a crash?". Well.... he/she continues further down with this gem: