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?
90% of families in the country own their home giving China one of the highest home ownership rates in the world. What’s more is that 80% of these homes are owned outright, without mortgages or any other leans. The only people who will have a crisis are financial capitalists who overinvested in the real estate sector, and they're not getting a bailout like they would in the west. Meanwhile, houshold savings in China are record high, and the economy is growing at 5.2%.
Maybe update your propaganda talking points there. 😂
80% owned outright my ass.
https://www.statista.com/statistics/1214346/china-value-of-real-estate-housing-mortgages/
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.
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.
Then why the fuck are the Chinese buying so many houses in Dublin
USA is a third world country with a first world GDP
I grew fond of "50 third world countries in a trenchcoat"
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?
Ah yes, authoritan homes. Now with a free mandatory portrait of Xi.
I cant tell if you are joking.
Is it even worth not being homeless if you don't have a cookie cutter McMansion?
These are the tough questions of our times which we must ask.
Lol. Elimate
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"
