Bloomberg Scoop: Chinese Government Considers Buying Unsold Homes to Ease Glut
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- Опубликовано: 13 май 2024
- Bloomberg has learned that China is considering a proposal to have local governments across the country buy millions of unsold homes, in what would be one of its most ambitious attempts yet to salvage the beleaguered property market. China Editor James Mayger and Chief North Asia Correspondent Stephen Engle analyze the plan on "Bloomberg: The China Show".
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I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?
"Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is actually one of the best ways to invest in stocks, and advisors are ideally suited for such task
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
this sounds considerable! think you know any advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five aiyears now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
Housing should be cheap and readily available
You should work & be readily available to do so & buy your own. Cheap 😂 the ghetto
@@preciousisrael7 "public housing = ghetto" Typical American brain rot.
@mtljin agree with you 100%. For me that includes affordable healthcare, education and transportation
lol, this is the 6th different housing plan since mid-'22. They still haven't handed over unfinished properties to people that pre-paid.
This MIGHT solved the problem because those (greedy) companies are lacking funds to finish building them. Of course, it's not as simple as handing them (house developers) money so that they can finished their projects but the government have to start somewhere...
Yes! Public Housing 🏘.
Yes 👍
Trying to create demand where there is none? It is assumed you get better lives living in an apartment, but do you? The rooms are less and smaller, they have to pay for body corp fees and council fees and parking fees and land tax every year, and take on debt, or they can just live in the village where they currently live and pay none of that, and people are content with their lives. The allures of a big city are quickly fading due to lack of jobs and low pay and high cost of living, also the human cost of not seeing their children and parents for an entire year working in a big city. People are giving up on lives, a house is not necessary, marriage is not necessary, kids are not a must, nothing is a must have in life anymore.
Very good point(s).
Where will the money come from to buy this real estate? Well of course, print more money
It's not USA
@@badbadbadcat They can still print Renminbi.
@badbadbadcat no instead it is China with three times the debt the USA has and one-half its economy.
@@waltertodd4479you have clearly been ill informed.
Chinese government purposely avoided that. You China hater
Chinese with not many way’s to invest bought 2nd home, Developers had ponzilike scheme. Announce new housing, public signed up and began to pay for place to be built, Developer took their money and announced project somewhere else. First place money was used to start 2nd project and on. When first place didn’t get finished, people quit paying then developers were in trouble. Leading to bankruptcies. Also developers built too many housing units for demand, leading to “ghost cities”. Huge problem of debt.
They still forbid to lower prices
Last few years sophisticated foreign investors were propping up these property developers, who were building higher end homes and not the affordable homes a few hundred million rural migrants will still need, as they migrate to the cities
So they let the sophisticated foreign investors and property developers take a hit... And will probably give these unsold homes to these rural migrants at a discounted price
Ooh it's the world famous blame it on the foreigner arguement
@@waltertodd4479 it’s really not a hard concept to understand Property Developer gets a influx of cash
What do you think they do with it?
They do what they do best build
In China in 2008 around 70% of the people in their real estate markets were buying their 1st homes in their cities
By 2018 around 70% of the people in their real estate markets were buying their 2nd and 3rd homes in their cities
That’s why you are hearing about problems with their property developers these days. Because back in 2010? Their Central Government started cutting of money flow to these developers.
Thus why you heard about Shadow Banks and Underground Economy back then, that their Government had to come into to shutdown or regulate.
Even then, It took them almost 14 years to get their overheated real estate under control
Heck they were about to introduce a nation wide property tax, but then trump started the trade war in 2018
Why is their Central Government doing this?
Because there are still a few hundred million poorer rural folk they still expect to move to the cities to join their more well off urban city folk countrymen.
Problem is these property developers were building higher end homes, and not building the affordable homes these rural migrants will need
In China
Owning a home in the city you migrate to? Affects your employment, health, education and even marriage prospects don’t have a house you don’t get married
Thus the common prosperity push and the crackdown on the overt displays of wealth in China
Their Government probably figured out you disenfranchise the people at the bottom of your society they are the ones most likely to act out in protest
I saw a Chinese tiktok video saying that around 10% prepaid poor people their house arejust half built and it has already last for likefive to six years
Home ownership in China: 90%
Home ownership in the US: 65%
I think you should be worried about yourselves.
Let's compare those numbers to other countries:
Laos, Romania, Vietnam, Hungary, Cuba, Slovakia, Russia.. all around 90%.
Spain, Brazil, Italy, Belgium, Egypt... all above 70%
Most people live in places they own. That's freedom. Not a slave paying rent. They can sell their houses, passed down form generation to generation.
USA takes all "rent" (virtual rent for owner-home) into GDP number.
They have to do something. US gov has similarly gotten involved, in the 1980's, resolution trust to save over 700 S&L's, and again in the 2000's for the financial crisis.
If contractors are able to sell unsold and unfinished homes they should be required to finish as many of those homes as possible. And quiet little secret… those homes are tofu dreg! I read that there are 25 MILLION empty apartments.
Glad algo brought me here. A show on China and these people seem to know what they’re talking about
It’s the same thing as Fannie Mae and Freddie Mac did in 2008 crisis. Some people just don’t have a brain.
So it’s a bailout? lol!
Good luck to buying over tofu dreg properties
What did US do b4?
Why does Bloome hire a Filipino reporter to run a show on China?
That’s the best they could afford
CCP will always favor the rich over the rural poor. Great for home owners. Lousy for those who don’t.
What a crazy comment. Wasn't it the CCP that got 800m out of poverty ?
Sounds like the opposite
Yuan printer go BRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR
Dont have to.
They just sell USA debt-
And what will soe/local government do with the apartment they brought? Lease it below market price? Destroy them? Keep it vacant and wait for price to go back up? This raises so many questions
They will convert them to affordable housing from what I read.
@@williamaseng backwards to socialism, I see.
@@thejeffinvade Social housing model is a massive success in Singapore. Housing should be as cheap and readily available like food, water and transportation. Like seriously why would anyone cheer for rising food price.
@@thejeffinvadeBetter than homeless people sleep on the street in U.S.
Yes it does raise lots of questions but communist governments always know best and are here to save the day of course.
Bloomie is more concerned that chinese govt is planning to have more public housing rather than the homelessness pandemic within USA
Why not bloomie wish USA politicians do the same ?
BUYING TOFU PROPERTIES???
As always Bloomberg good data and points . The good news is that as always China is creative , measured and smart in how they react to protect their people .... could never happen in the US... U S A will bail out banks, big corps and foreign nations ..... USA always will leave its Taxpayers riddled with bad mortgages, student loans and auto loans. Then will publish a grand Build Back Better kinda sort of with high inflation and part time side hustle job creation to murky up the real plight of the average American TaxPayer.
Im here from the government to help! 😄
Right move for Communists. But, do they have the money?
ccp is selling billions of billions of state bond
Well, better than sending trillions to oversea wars……
Unfortunately, the oversea war is coming....
if true, if true, if true....... truth about China is luxury