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. 😂
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.
What part of 90% of the people own their housing are you still struggling with?
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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”
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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”
