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Comment on China’s Economy Could Soon Face A Massive Debt Crisis

For which people? The people renting 2bds in major cities for 3-400/mo? The people who want to build a 2bd outside a major city for 50K+land cost?

It’s devastating for the people trying to make money off housing, it’s great for the people who need housing.

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solo@slrpnk.net ⁨1⁩ ⁨month⁩ ago
I’m sure you’re right about the people you mention, but they are not the ones I had in mind.

So, just to clarify, I was talking about the common people, like the young ones that are mentioned in the relevant article I linked above.

China’s Real Estate Crisis: Why the Younger Generation Is Not Buying Houses Anymore

Between skyrocketing home prices, the housing market debt default crisis, and a shifting culture, China’s younger generation is facing a vastly different housing market than their parents.

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- alcoholicorn@lemmy.ml ⁨1⁩ ⁨month⁩ ago
  That’s weird, every statistic I can find suggests mainland China’s housing prices have been decreasing since 2022. The whole reason developers abandoned projects was the projected cost went lower than what they’d spend finishing it.
  
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  - solo@slrpnk.net ⁨1⁩ ⁨month⁩ ago
    
    every statistic I can find suggests mainland China’s housing prices have been decreasing
    
    After your input, I looked it up a bit more and found stats like the ones you mention (example) but also found others that paint a more complex picture (example 2 - you will need to adjust the timeframe). So not too sure what to make of them at the mo.
    
    The whole reason developers abandoned projects was the projected cost went lower than what they’d spend finishing it.
    
    My understanding is different: it was a ponzy scheme (see article).
    
    Having said the above, I am open to take a closer look at any link you would like to share that clarify or contradict any of the above.
    
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