[butlerweave]

They’ll just increase the buying in the US by 30%

[Rurudyne]

Thing is, this whole last man holding the “investment” gets screwed economy of theirs doesn’t mean those getting out have figured out that real estate bubbles happen elsewhere. How much of our real estate boom is now being fueled by mainland Chinese looking for a place to put their money now that they got some sucker to buy their useless, uninhabitable apartments in “cities” in the middle of nowhere?

[RoosterRedux]

Real estate development is a business that takes a great deal of experience...and by experience, I mean in a free market economy. Artificial impediments introduced into the process by government, unions, or organized crime (as in NYC or Chicago) make it all the more precarious.

Now China...one can only imagine the poor state of RE risk-taking.

[VanShuyten]

This is China. It wouldn’t surprise me if Xi ordered the PLA to seize certain companies, and their employees, and force them to complete these unfinished projects. Then he could force the sale of remaining assets and then force the buyers to resume their mortgage payments.

[Flick Lives]

China’s real estate sector has been intertwined with local governments and land use policy, making the industry’s problems difficult to resolve quickly.

—

AKA, corporatism, AKA fascism.

[Jonty30]

I just read that richest woman in China list half her $24 billion net worth on the property wipeout.

[Brilliant]

Been hearing this for about 3 years now.

[Chode]

[Celtic Conservative]

If you’ve seen some of the alleged “construction” you would renege on your mortgage payments too.

CC

[BeauBo]

China has been having some bank runs also, with several banks refusing to return depositors money.

They have mountains of bad debt in the Chinese financial system. Fraud is standard business practice there - Government and private sector.

[cranked]

More ghost (empty) cities? Woot? /s