I mean, what could go wrong?
Posted on 02/27/2024 10:48:09 AM PST by george76
At the heart of the decline in family wealth is China's real estate meltdown, which is having a pervasive effect on a society where 70% of family assets are tied up in property.
Towards the end of last year, 34 of the top 50 Chinese property developers were in default..
China has rolled out new rules meant to expand access to commercial bank loans for property developers as Beijing doubles down on its effort to end a prolonged crisis in the real estate industry.
In an attempt to stabilize financial markets and boost the economy, the Chinese government has cut required bank reserves to add liquidity to the market.
Every 5% decline in home prices will wipe out $2.7 trillion in housing wealth..
Population Trends..
Official data showed the unemployment rate among those aged 16 to 24 was 14.9% in December 2023, excluding those still in school.
Additionally, China's population fell for the second consecutive year in 2023. This is the first time this has occurred since 1961, and that occurrence was brought on by a famine that took the lives of millions of citizens.
Statistics suggest that China's total fertility rate, which has steadily declined from 1.5 births per woman in the late 1990s to 1.15 in 2021, is now approaching 1.0, which is far below the replacement level of 2.1 that would maintain current population levels.
It remains to be seen if China will be able to alleviate the real estate downturn, as well as the declining population.
Do you think China will be able to reverse these trends?
Release a new virus to cover their losses?
Those High-rise apartments with nothing on the inside are collapsing and bringing everything else down with them
Central Planning, with lots of corruption.
At this rate Taiwan will just buy China in an estate sale.
From the Horse’s Mouth:
Developers in Tears! The Reason for China’s Worst Unfinished Buildings: CCP Extorts $100 Million
https://www.youtube.com/watch?v=xDVT60DrIbE
I wonder how much China pays our news organizations to keep this off TV, Internet and Print?
Our real estate situation in the US is certainly different. But we will also face a massive collapse. Dominoes are going to fall, and none of this is going to be pretty.
Boomers are getting off the stage with their nice homes - and illegals Biden’s bringing in aren’t going to moving into middle class homes anytime soon. It could get weird.
LOL! Ever been to Taiwan? A more industrious people you will never see. And I’ve worked in Japan, Singapore and Korea which come close.
The news organizations are already neck deep with the “Deep State” info regarding other matters like Biden, Trump and Russia.
No time to put out their stuff on China.
I mean, what could go wrong?
I wonder how much China pays our news organizations to keep this off TV, Internet and Print?
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Wonder also how much they pay out politicians to ignore it, how much the pay the politicians for looking askance to drug and human trafficking.
They HAVE to be built empty. A buyer has to design the interior to fit their “feng shui”. And no one would buy one already finished. So, they build buildings of empty shells, just waiting for buyers.
Japan in the 1980s: when Tokyo’s Imperial Palace was worth more than California and golf club membership could cost US$3 million – 5 crazy facts about the bubble economy.
Enough to keep the news that Americans don't trust afloat.
You too can own ten floors of your very own ghost city high rise.
Yup. A few times. Great place. I also worked in Asia.
Sounds like China could use a few million migrants. I know where they can get 20 million or so. We can ship them to China in the empty cargo ships returning to China after dumping cheap products in the U.S.
“Do you think China will be able to reverse these trends?“
China’s birthrate has collapsed. While they repealed the one-baby law, the impact of it was severe. Millions of Chinese men will never have a girlfriend—let alone a wife. Hence there are no babies being born.
China is literally knocking down apartment buildings in cities that significantly overbuilt—and that are practically empty.
In 20 years, China will be a shell of the country it was five years ago.
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