China's struggling property developers won't be getting a major bailout, authorities indicated, warning that those who "harm the interests of the masses" will be punished.
Y’all are dancing on this, but if they go through with it, this is going to cause a run of panic that will wipe out the savings of hundreds of millions of people.
It would in the west, in China they do a controlled crash, i mean it’s already happened, one of their biggest housing companies already crashed and it did not caused anything except rise in home ownership among the people.
Evergrande already went bankrupt in 2021 and the general population in China have been mostly shielded from the damage (except the poor billionaires though 😢)
How were they shielded? Do you have a source I can read? I’m genuinely interested.
I remember reading that there were protests because people bought condos and were essentially told they were never going to get completed. Did those people get a refund from the government or the company?
Not afaik. Anyone buying an unfinished condo though likely already has a home, specially since China’s home-ownership is about 90%.
And if they don’t, they can buy one for much cheaper now cuz house prices have gone down thanks to this real estate bubble being popped. And China already has 600 million vacant homes.
I dont care about investors when their investing in real estate has caused housing to skyrocket in price and making renting the only option for many people, myself included, while at the same time those same people will rent out at astronomical rates making many of us live more than paycheck to paycheck.
Y’all are dancing on this, but if they go through with it, this is going to cause a run of panic that will wipe out the savings of hundreds of millions of people.
It would in the west, in China they do a controlled crash, i mean it’s already happened, one of their biggest housing companies already crashed and it did not caused anything except rise in home ownership among the people.
Evergrande already went bankrupt in 2021 and the general population in China have been mostly shielded from the damage (except the poor billionaires though 😢)
How were they shielded? Do you have a source I can read? I’m genuinely interested.
I remember reading that there were protests because people bought condos and were essentially told they were never going to get completed. Did those people get a refund from the government or the company?
Not afaik. Anyone buying an unfinished condo though likely already has a home, specially since China’s home-ownership is about 90%.
And if they don’t, they can buy one for much cheaper now cuz house prices have gone down thanks to this real estate bubble being popped. And China already has 600 million vacant homes.
This also coincides with the CPC moving funding from the overinflated real estate sector to the high tech sector btw.
particularly EVs
Geopolitical economy report has a more in-depth video on this.
It’s zero sum to the population. Every dollar lost by an investor is a dollar saved by a new family buying a home.
I dont care about investors when their investing in real estate has caused housing to skyrocket in price and making renting the only option for many people, myself included, while at the same time those same people will rent out at astronomical rates making many of us live more than paycheck to paycheck.
American developers need to go bankrupt the same way if they won’t make accommodations affordable