You mean that’s not what Western media is accentuating about what some citizens are saying? China has a billion people with home ownerships rates that high. But even that high, it’s still millions of people who don’t own their homes, and most of them are in the big cities. It’s not hard to find people who will complain about the cost of housing so you can write a news article that pretends that this is a problem for all citizens.
It’s not. It’s far and away a better situation in China than in the US.
Well if your data is coming from the Chinese government it’s not trustworthy either. I notice you’re providing a lot of statistics without sources. I think that’s because you know nobody is going to believe those incredible numbers if they come from the CCP.
In China, housing investment is fueled by middle-aged households saving for
retirement or for their children’s marriage. Home ownership has always played a
prominent role in the Chinese society, and is remarkably high, standing at roughly
90 percent compared to about 65 percent in the United States
That source kind of points to previously state and implied issues though. Where there is actual demand to live, housing pricing is increasing astronomically, but the buying of ghost investment property in low demand cities is where the money is flowing.
The use of property as investment in China, last I heard on the subject, is largely because of the lack of other investment vehicles as well.
So it’s not buying themselves, and their kids a house to live in. Any more than a US based 401k is buying stocks to run a business. It’s mostly a speculative comoditity market. Where they hope to sale the ownership of a thing they have never had in person to someone else that will probably never have in person.
Both seem kind of farcical on the whole tbh but what do I know
Yeah, that’s not what China did. They tried to manufacture demand. If you wanted to make housing affordable for all you build where there’s demand.
The large majority of Chinese ghost cities became populated, because that’s how long term planning works
While that may be true, though I don’t know, I do know that they didn’t fix the cost of housing in their country.
They have a nationwide homeownership rate between 90% and 95%. I think they’re doing just fine.
That’s not what the citizens are saying.
You mean that’s not what Western media is accentuating about what some citizens are saying? China has a billion people with home ownerships rates that high. But even that high, it’s still millions of people who don’t own their homes, and most of them are in the big cities. It’s not hard to find people who will complain about the cost of housing so you can write a news article that pretends that this is a problem for all citizens.
It’s not. It’s far and away a better situation in China than in the US.
Well if your data is coming from the Chinese government it’s not trustworthy either. I notice you’re providing a lot of statistics without sources. I think that’s because you know nobody is going to believe those incredible numbers if they come from the CCP.
Cool story, roofus.
Source: https://dash.harvard.edu/server/api/core/bitstreams/d07a648e-b821-4485-b59f-09f11679e500/content
American Economic Association’s Journal of Economic Perspectives
That source kind of points to previously state and implied issues though. Where there is actual demand to live, housing pricing is increasing astronomically, but the buying of ghost investment property in low demand cities is where the money is flowing.
The use of property as investment in China, last I heard on the subject, is largely because of the lack of other investment vehicles as well.
So it’s not buying themselves, and their kids a house to live in. Any more than a US based 401k is buying stocks to run a business. It’s mostly a speculative comoditity market. Where they hope to sale the ownership of a thing they have never had in person to someone else that will probably never have in person.
Both seem kind of farcical on the whole tbh but what do I know