I wonder why there are so many Chinese nationals trying anything they can to get into the US? Why are they traveling to Mexico and paying the cartels to take their smuggling routes into the US? If you use this meme as a reference that shouldn't be happening.
I wonder where the disconnect is?
Maybe it's because this is tankie propaganda pushed by China and not based in reality.
I wonder, does China have the same issue of Americans trying anything they can to immigrate to China?
Also do you know what happened to the kids at Tienamen Square after they united in protest against the Chinese government?
Entry level housing goes for 3-400,000 USD in America: "YAYYY CAPITALISM WORKING AS INTENDED ALL HAIL THE OWNER CLASS WANT A HOUSE SHOULDA BEEN BORN WITH CAPITAL BITTCCHHHHHH"
Entry level housing goes for 3-400,000 in China: "EVILLLLLLL COMMIIEESSSS DEATH TO COMMIESS REEEEEE TANKIES"
Are you aware of the fact that right now China is on a housing crisis of its own, brought on by the fact that most households have no way to create an investment of their own to save for retirement, except for real estate, leading to some of the highest prices in the world?
If you actually choose to bother to check out pricing in most Chinese cities, you would come to realise that the pricing is very similar to the London center. When you consider that the average salary in China is much lower than in the UK, most Chinese are only able to buy houses with help from their parents and grandparents. Add to that the lack of balance between genders due to the ruinous one child policy, and the cultural norm of property being a requirement before even trying to propose to someone, and you got a housing bubble that looks set to burst.
Most current state put them at 40 trillion yuan in mortgages (5.5 trillion USD)
And their home ownership rates aren’t surprising when you consider how they have been pre-selling homes before they are even built. Which is backfiring horribly with those housing companies going under because they can’t finish the homes fast enough.
Most current state put them at 40 trillion yuan in mortgages (5.5 trillion USD)
If you had a clue regarding the subject you're opining on, then you'd understand that these figures aren't mutually exclusive. Vast majority of people in China own their primary homes, that's where 80% ownership comes from. In additions, people and companies buy up secondary properties, which is where the mortgages come from.
backfiring horribly with those housing companies going under because they can’t finish the homes fast enough
Do elaborate how it's backfiring on anybody but the financial capitalists who invested in these ventures.
I literally quoted a mainstream western article explaining that this is the case and even going into detail of how and why this is the case. Are you trying to claim that Forbes is shilling for China here and making things up?
Are you suggesting that the rate of home ownership in China has changed in any substantial way in the past 7 years. If so please do provide citations to support your claims. Otherwise, feel free to go trolling in a different thread lmao.
I already did. The statista link from before shows new home sales falling off a cliff over the last couple years. Probably due to all the problems the big sellers like evergrande have been seeing
I've literally addressed this already above. Your links are not showing that home ownership is falling off, they're showing that people are buying less homes now. Which is something you'd expect to be the case when most people already own a home. The only people buying homes now are the ones investing in them as secondary properties. It's incredible that you can't wrap your head around this.
