housing bears <would have been> vindicated.

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Senior Member
Hello! Could anyone tell why is "would have been" used in the following sentence?
According to the 21st Century Business Herald, three cities have reported increases in the number of bank repos of Chinese properties. Has a foreclosure crisis begun in China? If so, the China housing bears would have been vindicated.
Thank you in advance.

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  • anthox

    Senior Member
    English - Northeast US
    I don't mean to derail the thread, but this is sort of relevant to my providing a reasonable answer. What on earth is meant by "China housing bears"?
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