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?

[–] yogthos@lemmy.ml 7 points 8 months ago (14 children)

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. 😂

[–] colourednumbers 1 points 8 months ago

Don't you know there is no ownership of real estate in China? You buy your home to use for 70 years. After that time is over your house is owned by the government. I'm that sense nobody owns their house in China. Everybody has a tent contact with the government.

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