Patriotism of Xinnie PorkPooh #slopaganda #misery #shillbroth - With stimulus and measures, China's debt will be at 400% to 500% of its GDP in the next decade, according to Reuters. -Chinese 🇨🇳 property Ponzi sector, which accounts for 30% of GDP, is crashing -Tofu Exports and Western imports, accounting for 37% GDP, are down. -Foreign investment is falling over 90% compared to it's peak in 2018. -Foreign visitors are down 96% compared to the pre-pandemic level in 2019 with less than 200 americans left. -Consumer prices and pay are experiencing hyperstagdeflation while necessities are undergoing hyper flation. -Youth unemployment hits over 21% (in reality 75%+ after eliminating faked numbers), a record. -It's fast shrinking workforce is 10 years old than neighboring countries. - During the years 1990-2021, the US printed 6.5 time more money while China printed 147 times. - It has printed more money than the US and Japan combined, while it's economy is only half of them. - Current Chinese debt-to-gdp is already highest in the world, at 300%, according to Bloomberg. - This is a macroeconomic nightmare created by the party going way back in 1994 when they took the Tofu money off the international exchange. Now in 2024, the banks and the average little pink have no idea what is the ACTUAL value of anything within the country. Any stimulus from the Central state. will be meaningless and ineffectual because the Central Bank is a part of the Party. Thereby merging both fiscal Central and monetary private policies into one ongoing disaster. Local province officials were doing stimulus spending for decades in tandem of the "Economic Miracle" which will undermine any Central stimulus during an actual depression/recession or more accurately.. HYPERSTAGDEFLATIONARY NIGHTMARE. -- in the future house prices will drop to 10%, youth unemployment will be over 90%+ without streams, and middle class people over 35 will all be laid off with pays trimmed in half. How will you do in a country where real estate companies, local governments, and banks across China have crashed or fled? That is your challenge for the future (will you own a trash house with the mortgage?). Pensions will be laundered and your daily pay will be 1-2 dollars while you drink Poop Water and eat gasoline cooking oil while the Party and Porkpooh eat Tegong Special food supplies. Mengze harvard daughter: lives in US brother: australian green card daughter in law: british green card sister: canadian citizen brother in law: canadian citizen second sister: australian green card second brother in law: australian green card Arctic Catfish Shenzhen: laughs at how Leeks feed her Fei Fei Li-Has ties to the Party WOW SO GOOD AWESOME Organ Leeks #sloprosperity #theskydontlie
yeah 250k USD for an apartment when you're only making 1500/month... I understand that there's nothing in China to park your money in besides real estate speculating, but... What's that expression? If you owe the bank 1000, it's your problem. If you owe the bank 1.7 million, it's the bank's problem. I feel bad for these people nonetheless. From what I understand, in China, you take the risk of the loan all on your own. The bank is not remotely responsible for bad loans so they have no incentive to vet people. I think when enough of them are unable to pay back the mortgage, none of them are going to have to pay it back. of course by that point things are going to be too bad for anybody to care. 2008 but worse. much worse. edit: what's crazy to me is that you still hear foreigners in China, or see their comments on Reddit and such, saying how they want to buy a house in China. renting is one thing. Renting is cheaper than paying a mortgage. very cheap. But why would you want to buy. I guess they don't care about losing money on property. they just want to own their own tofu-dreg project.
Many are nuts or cheerleaders for the party. Try Jerry's take on China, a very interesting channel. This guys take on China iand the World s exactly what the Chinese government seems to like as their version of the truth or outright denial.
@@Mehwhatevr Many are nuts or cheerleaders for the party. Try Jerry's take on China, a very interesting channel. This guys take on China and the World is exactly what the Chinese government seems to like as their version of the truth or outright denial.
Home prices do not match incomes in the entire world. Banks have caused this problem by giving loans to those who can't afford housing. They created an artificial demand sending property prices off the chart. When the bubble burst, prices could drop by another 80% to 90% worldwide, as unemployment forces people to leave big cities and move to the countryside. As for now, there is still no price discovery.
I’ve been watching this channel for years and you guys have done a great job reporting on China. The language barrier (and CCP) really prevents much news from getting to America, so I appreciate all the work you guys all do!! Chinas economy is an enigma and these reports I’ve noticed over time hold up well.
1. Still way overpriced for current situation. 2. I don't trust the construction quality. One medium sized earth quake will topple these tofu buildings.
the ground water levels getting deeper, and the floods getting higher. as the soil settles the foundations of all these tofu dregs are sinking and cracking.
Wow, the cost per square meter is still outrageously expensive! Price reduced now $8,000 per square meter = $744 per square feet. How did it ever get to this point?
China had a booming economy, all the money from the west kept going to China. It was inevitable that the bubble would burst sooner or later. The prices are still too expensive and the buildings are built with low quality materials, meaning that they will be absolutely worthless in a few years.
Because many Chinese folks are highly impulsive but believe they are just being decisive; have intense feeling for instant gratification; have an intense need to impress and be the envy of friends, family, and coworkers; have a strong fear of “missing out” on anything; don’t understand how finance works, such as loans, interest, real estate as an investment, or even proper budgeting; and they constantly fail to perform the least amount of due diligence when buying or investing in anything. And with all of the above, along with their acute cupidity, it makes them incredibly easy marks for the unscrupulous developers, salesman and loan officers. For these folks it’s about as hard as sandblasting a soup cracker to get the buyers talked into homes they can’t afford, and might fall apart before they pay off even the interest on their high “interest first” mortgages that will bleed them dry and crush them.
Ideally, houses should be for providing shelter to people and families. Not "investments" that endlessly gain value and you can sell off profit. It doesn't even make sense long term. Eventually houses will become so expensive that's there's no one left to sell them to. Then the market crashes.
To be fair to Xi Jinping because even a fool can stumble upon what is right once in a while, he did say that houses are for living in, not speculation. But by then it was way, way too late. and he was no less guilty than anyone else of pushing overbuilding as long as it made the GDP figures look good. You're absolutely right, and we see this happening in 'hot' real estate markets in the US, too - eventually, houses get so expensive that only the rich can afford them. China is going through a truly insane version of typical market dynamics because of the distortions that their political and economic not only allowed, but encouraged.
Greed is a hell of a drug. I said same. People probably thought it was a better way to get rich quick. The CCP scum promote materialistic lifestyle, consume and consume and keep that GDP growing.
well... when you make homes for 1billion people but most of them already had homes and they are not having kids what do you expect? also, they deserving it for "betting" on house prices always going up, instead of living on those homes, they just hoarded them like some kind of vulture cannot wait for it to happen all over the world AGAIN!
@@jasmines.6325 That would be interesting. I'm not an economist, but it would be interesting to hear it discussed. subsidies, or some kind of affirmative action for first time home buyers. I'm not sure how it would work with private sellers though. subsidies seems like a bad idea. it will be like the college loan problem except with housing. raising prices ever higher because the government will cover it. It would have to be something like affirmative action. first home buyers are required to be given priority and lower pricing. lol. Like Monopoly when you're building hotels haha.
This is what happens when you speculate on a market so hard and for so long, the bubble grows so big that when it explodes it takes the whole country down. I know I don't agree with Chinese Winnie The Pooh on a nearly infinite number of things but on one specific thing we are on the same page: Homes are indeed for living.
The algorithm is recommending to you China videos about money and suffering because you keep watching them. It's not as though these things aren't happening. If you want to see good things in China, you can find more positive videos. I'm not saying Chinese people are all happy and partying and dancing all the time. But Chinese people aren't always suffering. Overall, people in China are just living out their lives the way we do in any other country. Wake up, go to work, go home. pay the bills. go out and have a beer. once or twice a year gather with your family to celebrate this or that festival. Take America for example. People outside of the country think there's a school shooting, homeless people, etc. every other day. But in reality, most Americans have never seen a gun used. Have never seen someone shot or stabbed. etc. The reason content like this dominates is for the same reason content like this about the USA dominates. People aren't interested in seeing Americans or Chinese people living average lives. They're interested in popping the propaganda balloons that depict places as being a paradise. Every place has issues. The issue with China is that you can live 10km away (not literally) and have no idea this or that is happening. Especially if you are a foreigner. personally, I like to be informed about the good, the bad, and the ugly. Gives me a more realistic perspective on the world and where we're headed.
They are the incarnates of Mammon and thus reap its fruits. Matthew 6:24 "Ye cannot serve God and MAMMON." Matthew 24:6-7 " And ye shall hear of wars and rumors of wars, see that ye be not troubled for all these things must come to pass, but the end is not yet. For nation shall rise against nation, and kingdom against kingdom: and there shall be famines, and pestilences, and earthquakes, in various places."
Unlike the West, those that default have little ability to declare bankruptcy from what I have read. Personal bankruptcy exists in Shenzen and Hong Kong but not the rest of China for some reason.
@@MasticinaAkicta They have bankruptcy services engaging a scrap goat to take over your bankruptcy for a premium, all very shady businesses in China, best to avoid.
Well even now there prices are pretty high compare to USA cost and compare what they make in income. These are basically condos and they do not own them. They have a lease on them. In China making $1000.00 is a good salary. Now people are lucky to make $300.00. The bovernment should just tell people to pay what they can at this point because now everyone is homeless and you have tons of empty homes no one will buy. The government is doing nothing. Maybe the government will just take over all the building and start assigning people to home like Korea. This is a way to make everyone poor so they can control people even more. These housing prices are still insane.
@@lukaszwych8304 S&P, Finch and Moody's rate China A+, a credit rating still very far from speculative grade of many other countries. Is it going to collapse? Not likely.
They could teach you about capitalism more than you would ever learn in USA. Learn what communism means first, and stop spreading nonsense. Not every duck that is called a lion, is a lion.
I don't understand why the Chinese take 30yr mortgages that only give them the ability to live in for 70 years, and even if they did sell it later isn't it true that the buyer only has ownership until the remaining portion of the 70 years elapses as well?
And that would degrade the value of the property, surely. Why would I pay the same price as the original buyer when I have five or ten fewer years to use it?
I bet alot of drywall is toxic. In early 2000s US housing boom southern region received loads of toxic drywall from China. Many of the drug recalls are also because of China and low quality production methods which leads to impurities
Real Estate prices went up by 9x in only 9 years which is clearly a bubble. So it goes down now by half. Prices are still way above where they were ten years before. They will correct until property can be afforded by the people who live there. Quit crying.
Decreases in housing costs aren't all bad but the CCP needs to step in with modification of mortgages for single family homes. Those who bought multiple properties on speculation need to take their lumps. The people who bought homes and the developer didn't deliver need the Government to step in and give them some relief. Sure Market adjustments are real and painful but a total collapse of the Housing Market in China is a death spiral.
No body tells me who take cares of the common areas? Is it like Florida HOA? They keep say house are old (>35+ years). Yes, a lot of these older houses looked like crap but how can that be old? I live in a 50 year old house. I paid 35K to update house (inside) before I moved in. Spent over 7K to trim/cut trees couple of years ago. 6.5K to paint the house last year. And I try to take care of routine maintenance.
usd 4digits/square meter... how is that price even justifiable??? i cant even buy a quarter of square meter...let alone that house... those china chinese must be so rich...... =.=
@@lawrencel2544 Pretty much anywhere 🤣. Good time to buy but probably not a good investment. They will probably go down more in the near future. Apartments in or near B cities are really cheap now. If it's just for living not bad. Just don't expect to make any money on it in the future.
If everything is tied to investment in housing and property, people lose a lot of money on their investments. If nobody can afford to purchase, then it is a lose lose.
When u buy houses for investments for example 1 million by taking loan from bank, when the value of the Properties down by 50 percent, even when u sell the house u still have to pay the 50 percent to the bank with interest. It's not a problem if u buy the house in cash or to live there for a long period of time
for the lady who bought a 1.7 million yuan house, where I live , you should have an annual income of 425K yuan... a rough estmate, 25% of the house price should be annual income.... many failed because of lack of understanding in buying high end items such as homes..... pity..
In actuality this is great news. The housing bubble brought house prices so high the average person could not buy. Yes it hurts the base economy, but it was needed. Once China goes past this bump it will be better of for it.
I just don't understand why they (gov/soe) are still building new property, when the country has enough housing stock for 3 billion people for a century to last... 😷
I hate everything about China . And then I look at these people and I feel massive empathy for them . Especially that woman crying " I can't live with you any more " . THAT -- is Heart Breaking .😮💨.
These people with their, "It only goes up up up" attitude. I do not feel bad, when you get desperate to purchase a home or house when you know damn well it's hyper expensive. You decided to catch the falling knives, no one else.
The biggest issue is that now , they have build sooooo many houses , just for speculation, and that those houses aren’t even fully paid nor (not all) fully finished…. And it can’t attract FDI ( foreign Direct Investment) because , you only own the houses for 70 years and you don’t even or never will be to own ground , because it belongs to the CPC …. Soo, who in his sane mind , would want to invest in Chinese homes? It like adding tap water to the sea to make it lesser salty…. 😂
You knew when everyone and their not too bright friends all thought that buying property was a no-lose investment that it would come to a bad end some day. No investment is riskless.
the talk of market price like it's a thing...so 22,,% off mean it was over priced to begin with. Given the cheap labour, materials, short cuts in china... building these flats was costs a fraction for what the were priced. The prices are simply reverting to what they were worth to begin with... a few thousand dollars at most.
The bubble has truly burst. I remember how five years ago or so some people still said that the Chinese Economy was so much better then the west. Well, delayed as it is by huge debts, right now China is having to eat bitter.
This means an AI voice translator because a lot of us are listening to Bluetooth and not watching a video so we can’t follow along with what’s going on
In order to rescue their China state owned establishments they will continue to embark on Mega projects such as OBOR, Port & High Speed Rails Infrastructures , Water & Energy Dams, Electric Vehicle Industries, Commercial Properties even if it doesn't make economical sense for the hosting countries, long term feasible studies for the environment or strategic risk planning for future global challenges. Investors and participating countries will be left 'Holding the Bag' whether if mislead by corruption or short term gain e.g. Sri Lanka sea ports and many more mega white elephants in the horizons.
How does all this production in China relate to the housing crisis the channel, China Insights, describes? "Housing prices plummet and mortgage payments are cut off, with serious consequences."
Good , fall another 40% then all assets will become cheap and ppl will buy them and make a ton of money. A multi year asset deflation is happening after decades of price appreciation causing huge asset bubbles and ppl taking too much debt and risks which they cannot afford. What needs to happen will happen , then wages , rents , apartments, cars etc will drop to a level where 70% of the ppl can afford and then the economy will be on the rise again, the quicker that happens the better. Short steep pain
It's still expensive. Their income doesn't seem to match up with the home price.
Patriotism of Xinnie PorkPooh #slopaganda #misery #shillbroth
- With stimulus and measures, China's debt will be at 400% to 500% of its GDP in the next decade, according to Reuters.
-Chinese 🇨🇳 property Ponzi sector, which accounts for 30% of GDP, is crashing
-Tofu Exports and Western imports, accounting for 37% GDP, are down.
-Foreign investment is falling over 90% compared to it's peak in 2018.
-Foreign visitors are down 96% compared to the pre-pandemic level in 2019 with less than 200 americans left.
-Consumer prices and pay are experiencing hyperstagdeflation while necessities are undergoing hyper flation.
-Youth unemployment hits over 21% (in reality 75%+ after eliminating faked numbers), a record.
-It's fast shrinking workforce is 10 years old than neighboring countries.
- During the years 1990-2021, the US printed 6.5 time more money while China printed 147 times.
- It has printed more money than the US and Japan combined, while it's economy is only half of them.
- Current Chinese debt-to-gdp is already highest in the world, at 300%, according to Bloomberg.
- This is a macroeconomic nightmare created by the party going way back in 1994 when they took the Tofu money off the international exchange. Now in 2024, the banks and the average little pink have no idea what is the ACTUAL value of anything within the country. Any stimulus from the Central state. will be meaningless and ineffectual because the Central Bank is a part of the Party. Thereby merging both fiscal Central and monetary private policies into one ongoing disaster. Local province officials were doing stimulus spending for decades in tandem of the "Economic Miracle" which will undermine any Central stimulus during an actual depression/recession or more accurately.. HYPERSTAGDEFLATIONARY NIGHTMARE.
-- in the future house prices will drop to 10%, youth unemployment will be over 90%+ without streams, and middle class people over 35 will all be laid off with pays trimmed in half.
How will you do in a country where real estate companies, local governments, and banks across China have crashed or fled? That is your challenge for the future (will you own a trash house with the mortgage?). Pensions will be laundered and your daily pay will be 1-2 dollars while you drink Poop Water and eat gasoline cooking oil while the Party and Porkpooh eat Tegong Special food supplies.
Mengze harvard daughter: lives in US brother: australian green card daughter in law: british green card sister: canadian citizen brother in law: canadian citizen second sister: australian green card second brother in law: australian green card
Arctic Catfish Shenzhen: laughs at how Leeks feed her
Fei Fei Li-Has ties to the Party
WOW SO GOOD AWESOME Organ Leeks #sloprosperity #theskydontlie
yeah 250k USD for an apartment when you're only making 1500/month...
I understand that there's nothing in China to park your money in besides real estate speculating, but...
What's that expression? If you owe the bank 1000, it's your problem. If you owe the bank 1.7 million, it's the bank's problem.
I feel bad for these people nonetheless. From what I understand, in China, you take the risk of the loan all on your own. The bank is not remotely responsible for bad loans so they have no incentive to vet people. I think when enough of them are unable to pay back the mortgage, none of them are going to have to pay it back. of course by that point things are going to be too bad for anybody to care. 2008 but worse. much worse.
edit: what's crazy to me is that you still hear foreigners in China, or see their comments on Reddit and such, saying how they want to buy a house in China. renting is one thing. Renting is cheaper than paying a mortgage. very cheap. But why would you want to buy. I guess they don't care about losing money on property. they just want to own their own tofu-dreg project.
Many are nuts or cheerleaders for the party. Try Jerry's take on China, a very interesting channel. This guys take on China iand the World s exactly what the Chinese government seems to like as their version of the truth or outright denial.
@@Mehwhatevr Many are nuts or cheerleaders for the party. Try Jerry's take on China, a very interesting channel. This guys take on China and the World is exactly what the Chinese government seems to like as their version of the truth or outright denial.
Home prices do not match incomes in the entire world. Banks have caused this problem by giving loans to those who can't afford housing. They created an artificial demand sending property prices off the chart. When the bubble burst, prices could drop by another 80% to 90% worldwide, as unemployment forces people to leave big cities and move to the countryside. As for now, there is still no price discovery.
I’ve been watching this channel for years and you guys have done a great job reporting on China. The language barrier (and CCP) really prevents much news from getting to America, so I appreciate all the work you guys all do!!
Chinas economy is an enigma and these reports I’ve noticed over time hold up well.
1. Still way overpriced for current situation. 2. I don't trust the construction quality. One medium sized earth quake will topple these tofu buildings.
Almost entire city
Medium sized earthquake?
Bro, if like 100 people all jumped at the same time inside those buildings, collapse is basically imminent
the ground water levels getting deeper, and the floods getting higher.
as the soil settles the foundations of all these tofu dregs are sinking and cracking.
Wow, the cost per square meter is still outrageously expensive! Price reduced now $8,000 per square meter = $744 per square feet. How did it ever get to this point?
这是我在地球上的最后一代，没有工作，没有钱，没有妻子，只是平躺着 #WOWSOGOOD #theskydontlie #tubecensor #shillbroth #feifeilistealsgoogleaifortsinghua
China had a booming economy, all the money from the west kept going to China. It was inevitable that the bubble would burst sooner or later. The prices are still too expensive and the buildings are built with low quality materials, meaning that they will be absolutely worthless in a few years.
Compare to house price in Silicon Valley, then it seems a bit more reasonable...
Because many Chinese folks are highly impulsive but believe they are just being decisive; have intense feeling for instant gratification; have an intense need to impress and be the envy of friends, family, and coworkers; have a strong fear of “missing out” on anything; don’t understand how finance works, such as loans, interest, real estate as an investment, or even proper budgeting; and they constantly fail to perform the least amount of due diligence when buying or investing in anything.
And with all of the above, along with their acute cupidity, it makes them incredibly easy marks for the unscrupulous developers, salesman and loan officers.
For these folks it’s about as hard as sandblasting a soup cracker to get the buyers talked into homes they can’t afford, and might fall apart before they pay off even the interest on their high “interest first” mortgages that will bleed them dry and crush them.
Compare to house price in Caracas V., then it seems a bit more CRAZY! (But you understand, why Chinese buy up the town.)
Ideally, houses should be for providing shelter to people and families. Not "investments" that endlessly gain value and you can sell off profit.
It doesn't even make sense long term. Eventually houses will become so expensive that's there's no one left to sell them to. Then the market crashes.
To be fair to Xi Jinping because even a fool can stumble upon what is right once in a while, he did say that houses are for living in, not speculation. But by then it was way, way too late. and he was no less guilty than anyone else of pushing overbuilding as long as it made the GDP figures look good. You're absolutely right, and we see this happening in 'hot' real estate markets in the US, too - eventually, houses get so expensive that only the rich can afford them. China is going through a truly insane version of typical market dynamics because of the distortions that their political and economic not only allowed, but encouraged.
Greed is a hell of a drug. I said same. People probably thought it was a better way to get rich quick. The CCP scum promote materialistic lifestyle, consume and consume and keep that GDP growing.
AI 6G Financial Failexpertise
Everything goes up with inflation. Including housing
well... when you make homes for 1billion people
but most of them already had homes
and they are not having kids
what do you expect?
also, they deserving it for "betting" on house prices always going up, instead of living on those homes, they just hoarded them like some kind of vulture
cannot wait for it to happen all over the world
AGAIN!
For real a house should be considered a commodity for people to use for living. Not an investment.
I wish nothing but misery and poverty upon the wealth class that speculate on the housing market.
So investors will just be able to snap them up? Nah, it needs to be for first time homebuyers, cheap housing should be set aside somehow by govt.
@@jasmines.6325if they didn't think they will go up in price they wouldn't snap them up
@@jasmines.6325 That would be interesting. I'm not an economist, but it would be interesting to hear it discussed. subsidies, or some kind of affirmative action for first time home buyers. I'm not sure how it would work with private sellers though. subsidies seems like a bad idea. it will be like the college loan problem except with housing. raising prices ever higher because the government will cover it. It would have to be something like affirmative action. first home buyers are required to be given priority and lower pricing. lol. Like Monopoly when you're building hotels haha.
This is good news, with lower prices people can afford homes again.
This is what happens when you speculate on a market so hard and for so long, the bubble grows so big that when it explodes it takes the whole country down. I know I don't agree with Chinese Winnie The Pooh on a nearly infinite number of things but on one specific thing we are on the same page: Homes are indeed for living.
Nice reset. We need this in the West as well.
It's coming.
Cognition will determine Destiny... Interesting statement!
Once it falls to $50,000 USD for a 100 square metre apartment in Shenzhen, I will buy one!
aren't you someone the ccp would call an evil western capitalist? preying on someone's misfortune?
Wow, the cost per square meter is still outrageously expensive!
Who wants to live in hegang…. It’s in the middle of nowhere, there is nothing there…
How come every video I see about modern Ch1na is always about money or people suffering?
If you view videos of China relating to money and suffering then RUclips will recommend many similar videos to you.
The algorithm is recommending to you China videos about money and suffering because you keep watching them. It's not as though these things aren't happening.
If you want to see good things in China, you can find more positive videos. I'm not saying Chinese people are all happy and partying and dancing all the time. But Chinese people aren't always suffering. Overall, people in China are just living out their lives the way we do in any other country. Wake up, go to work, go home. pay the bills. go out and have a beer. once or twice a year gather with your family to celebrate this or that festival.
Take America for example. People outside of the country think there's a school shooting, homeless people, etc. every other day. But in reality, most Americans have never seen a gun used. Have never seen someone shot or stabbed. etc.
The reason content like this dominates is for the same reason content like this about the USA dominates. People aren't interested in seeing Americans or Chinese people living average lives. They're interested in popping the propaganda balloons that depict places as being a paradise. Every place has issues. The issue with China is that you can live 10km away (not literally) and have no idea this or that is happening. Especially if you are a foreigner. personally, I like to be informed about the good, the bad, and the ugly. Gives me a more realistic perspective on the world and where we're headed.
They are the incarnates of Mammon and thus reap its fruits.
Matthew 6:24 "Ye cannot serve God and MAMMON."
Matthew 24:6-7 " And ye shall hear of wars and rumors of wars, see that ye be not troubled for all these things must come to pass, but the end is not yet. For nation shall rise against nation, and kingdom against kingdom: and there shall be famines, and pestilences, and earthquakes, in various places."
Bad construction, no garage. Good luck. Would never buy one
Everything has value even garbage....
it's actually still very expensive. it needs to drop another 50%.
Houses should only be a place to live in not a form of way to gain wealth.
People got greedy.
This is not reduction, it is correction. Housing prices should be commensurate with incomes.
50 percent is a crash
Unlike the West, those that default have little ability to declare bankruptcy from what I have read. Personal bankruptcy exists in Shenzen and Hong Kong but not the rest of China for some reason.
Yup, that debt sticks to you, your family, your kids... no way to get rid of it.
And you get black-listed where you cannot use high-speed trains or fly on airliners or get a loan for a house or car in the future.
@@MasticinaAkicta They have bankruptcy services engaging a scrap goat to take over your bankruptcy for a premium, all very shady businesses in China, best to avoid.
@@MasticinaAkictayeah, tell us more lie, liar
Commys
Well even now there prices are pretty high compare to USA cost and compare what they make in income. These are basically condos and they do not own them. They have a lease on them. In China making $1000.00 is a good salary. Now people are lucky to make $300.00. The bovernment should just tell people to pay what they can at this point because now everyone is homeless and you have tons of empty homes no one will buy. The government is doing nothing. Maybe the government will just take over all the building and start assigning people to home like Korea. This is a way to make everyone poor so they can control people even more. These housing prices are still insane.
When is too much greed ever good?
Market correction is good
but market crash after buble is not good, after big crashe the economy is getting back 10 years at least, sometimes never, like Japan.
@@lukaszwych8304 S&P, Finch and Moody's rate China A+, a credit rating still very far from speculative grade of many other countries. Is it going to collapse? Not likely.
still terrible overprized, because you can rent the houses for about 3000 to 4000 rmb in Shenzhen.
Small dips in big cities are a normal correction in housing
Who knew that if you build way more homes than there is a market for the prices will crater?
Those are condos a house is on ground level not in a building
In Mandarin Chinese, there is no word that distinguishes between those. Home/House could be any of those.
This is OOFconomy!
6:57 If all the houses are '20% under the market price' than that IS the market price. I understand this is tricky for Communists.
They could teach you about capitalism more than you would ever learn in USA. Learn what communism means first, and stop spreading nonsense.
Not every duck that is called a lion, is a lion.
speculation and borrowing in EXCESS to get rich... how does that work?
Slumping housing prices have been catastrophic for Chinese property owners as they are overwhelmed with excessive debts.
Lmao. Still over priced. It might collapse
I don't understand why the Chinese take 30yr mortgages that only give them the ability to live in for 70 years, and even if they did sell it later isn't it true that the buyer only has ownership until the remaining portion of the 70 years elapses as well?
And that would degrade the value of the property, surely. Why would I pay the same price as the original buyer when I have five or ten fewer years to use it?
You can pass the apartment down to your kids and that resets the 70.
Isn't the goal to build enough homes so that everyone can afford to live comfortably?
I bet alot of drywall is toxic. In early 2000s US housing boom southern region received loads of toxic drywall from China. Many of the drug recalls are also because of China and low quality production methods which leads to impurities
Real Estate prices went up by 9x in only 9 years which is clearly a bubble. So it goes down now by half. Prices are still way above where they were ten years before. They will correct until property can be afforded by the people who live there. Quit crying.
nothing is a guarantee. even ny can fallen if it is not economical.
Very sad, but they chased the greed train and the banks won.
No the banks are not winning either. They have tons of outstanding debt and a lot of houses no one wants to buy
Decreases in housing costs aren't all bad but the CCP needs to step in with modification of mortgages for single family homes. Those who bought multiple properties on speculation need to take their lumps. The people who bought homes and the developer didn't deliver need the Government to step in and give them some relief. Sure Market adjustments are real and painful but a total collapse of the Housing Market in China is a death spiral.
No body tells me who take cares of the common areas? Is it like Florida HOA? They keep say house are old (>35+ years). Yes, a lot of these older houses looked like crap but how can that be old? I live in a 50 year old house. I paid 35K to update house (inside) before I moved in. Spent over 7K to trim/cut trees couple of years ago. 6.5K to paint the house last year. And I try to take care of routine maintenance.
I wouldn’t buy for five bucks a square meter
Ok. I am looking to buy an vacation home apartment in China. Any suggestions?
usd 4digits/square meter... how is that price even justifiable??? i cant even buy a quarter of square meter...let alone that house... those china chinese must be so rich...... =.=
Rightfully deserved. Let's all further help the Chinese out by reducing any Made-in-China purchases whenever humanly possible.
Agree, shall I give you a link to Ozon market? You can buy from Russia instead. You go girl!
Where I live in China, prices have dropped 50%.
What city is that? I am looking to buy a vacation home sometime this or next year.
@@lawrencel2544 Pretty much anywhere 🤣. Good time to buy but probably not a good investment. They will probably go down more in the near future. Apartments in or near B cities are really cheap now. If it's just for living not bad. Just don't expect to make any money on it in the future.
@@Louis-z7q
In the next 5 years, they will go down by another 30-50%, if Trump becomes a president, that is a 100% guaranteed.
12:38 Someone PLEASE explain to me how low price houses are screwing people over.
If everything is tied to investment in housing and property, people lose a lot of money on their investments. If nobody can afford to purchase, then it is a lose lose.
When u buy houses for investments for example 1 million by taking loan from bank, when the value of the Properties down by 50 percent, even when u sell the house u still have to pay the 50 percent to the bank with interest. It's not a problem if u buy the house in cash or to live there for a long period of time
Thank you 👍🇮🇳
for the lady who bought a 1.7 million yuan house, where I live , you should have an annual income of 425K yuan... a rough estmate, 25% of the house price should be annual income.... many failed because of lack of understanding in buying high end items such as homes..... pity..
In actuality this is great news. The housing bubble brought house prices so high the average person could not buy. Yes it hurts the base economy, but it was needed. Once China goes past this bump it will be better of for it.
Those apartments are worth not more than a car. You can be luck if your new flat will not fall apart because of quality.
Everyone has problems.....
I live in Shenzhen I can confirm this. May be another 50 percent off is on horizon.
I feel bad for the common everyday Chinese it's extremely depressing to look at, the sooner they return to democracy the better.
I just don't understand why they (gov/soe) are still building new property, when the country has enough housing stock for 3 billion people for a century to last... 😷
It's called the CCP Great Leap Backward
Reminds me of U.S. housing crash of 2008 . Some more prosperous cities and states took three years to recover,
some others much longer.
I hate everything about China . And then I look at these people and I feel massive empathy for them . Especially that woman crying " I can't live with you any more " . THAT -- is Heart Breaking .😮💨.
because your brain is shithole😂😂
Houses in Beijing and Shanghai has not fallen ... only houses that r poor quality or in bad areas
These people with their, "It only goes up up up" attitude. I do not feel bad, when you get desperate to purchase a home or house when you know damn well it's hyper expensive. You decided to catch the falling knives, no one else.
This is text-to-speech right? The voice sounds so robotic and no indications of inhaling and exhaling while reading
It says in the the closing credits that he is Todd Crawford, a Canadian. Maybe he's a quiet breather. Canadians are famous for that.
I predicted a 68% price reduction in 2019 of all housing, and property prices in Beijing, and all major cities.
Xi Jinping brings SUFFERINGS.
CCP brings MISERY 😂😂😂😂
China insight = invent “insides about China 😂😂😂
good news for China , Singapore still dare to invest in China , act brave with Singaporeans money.
Kind of thinking Blackrock is looking at this.
Only people who remain are the ones who cannot leave
The biggest issue is that now , they have build sooooo many houses , just for speculation, and that those houses aren’t even fully paid nor (not all) fully finished…. And it can’t attract FDI ( foreign Direct Investment) because , you only own the houses for 70 years and you don’t even or never will be to own ground , because it belongs to the CPC …. Soo, who in his sane mind , would want to invest in Chinese homes? It like adding tap water to the sea to make it lesser salty…. 😂
You knew when everyone and their not too bright friends all thought that buying property was a no-lose investment that it would come to a bad end some day. No investment is riskless.
its like stocks ...you need to ride out the dip ...dont sell on the low, ride it out.
Maps!!!! WELL DONE TEAM
Who the Hell wants to live in Inner Mongolia ? Let alone buy an Apartment there ?
Inner Mongolians?🤔🤔
Why dont they all iust buy auction houses
I wonder if this is going to produce a 'Ripple Effect' on the housing market worldwide?. 🤔
Rise up People of China
As long as you don’t sell prices are unimportant
Commas are important…
CCP doesn't need to do much...the people do it to themselves....
Nice! And this is just the tip of the iceberg.
the talk of market price like it's a thing...so 22,,% off mean it was over priced to begin with. Given the cheap labour, materials, short cuts in china... building these flats was costs a fraction for what the were priced. The prices are simply reverting to what they were worth to begin with... a few thousand dollars at most.
Just give the houses away - the make everyone work to pay them off. What good are they if all the homes are sitting vacant!? then nobody wins...
The bubble has truly burst.
I remember how five years ago or so some people still said that the Chinese Economy was so much better then the west.
Well, delayed as it is by huge debts, right now China is having to eat bitter.
Karma to the CCP!
everybody cant make any loan anymore due to highprice house at first buy, they cant afford to buy 2nd house at discount price..
I’m Australian. Can I buy some?
This means an AI voice translator because a lot of us are listening to Bluetooth and not watching a video so we can’t follow along with what’s going on
If only they just let Blackrock and Vanguard come in and rake in the loss value
You should say "homes" or "apartments" or "condos". The term "house" means a stand alone single family building with some land around it.
In Mandarin Chinese, there is no word that distinguishes between those. Home/House could be any of those.
@@zyrtor1 The videos are in English, though.
In order to rescue their China state owned establishments they will continue to embark on Mega projects such as OBOR, Port & High Speed Rails Infrastructures , Water & Energy Dams, Electric Vehicle Industries, Commercial Properties even if it doesn't make economical sense for the hosting countries, long term feasible studies for the environment or strategic risk planning for future global challenges.
Investors and participating countries will be left 'Holding the Bag' whether if mislead by corruption or short term gain e.g. Sri Lanka sea ports and many more mega white elephants in the horizons.
Please translate and voice what’s being said in these videos for the visually impaired!
My mortgage rate is 2.5% wtf? They should seriously consider mortgage payment moratorium. But king pin is too stupid
Good news for future marriage rates
We need a housing crash in the USA. The home prices are crazy over priced
How does all this production in China relate to the housing crisis the channel, China Insights, describes?
"Housing prices plummet and mortgage payments are cut off, with serious consequences."
Sun Khuy VChay - motto of the day
Good , fall another 40% then all assets will become cheap and ppl will buy them and make a ton of money. A multi year asset deflation is happening after decades of price appreciation causing huge asset bubbles and ppl taking too much debt and risks which they cannot afford. What needs to happen will happen , then wages , rents , apartments, cars etc will drop to a level where 70% of the ppl can afford and then the economy will be on the rise again, the quicker that happens the better. Short steep pain
these videos would be much better if they had english narration instead of subtitles.
TBH The value isn't as much as it's listed because they're Tufu dreg...will fall down in less than 2yrs
I’m so sorry for these people who live under communism
Doesn't pay to be Chinese does it? Who's fault is that?
This channel is better than most clown shows! If you believe these clowns , my pet pig can fly too
Whaaaaaaaaat
Oh NO 😮😮😮
😅😂
No narration no viewing