Comment on China’s Economy Could Soon Face A Massive Debt Crisis
solo@slrpnk.net 1 week agoI’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.
alcoholicorn@lemmy.ml 1 week 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.
solo@slrpnk.net 1 week ago
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.
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.