World News

32283 readers

742 users here now

News from around the world!

Rules:

Please only post links to actual news sources, no tabloid sites, etc
No NSFW content
No hate speech, bigotry, propaganda, etc

founded 5 years ago

MODERATORS

[email protected]

389

China's housing minister says real estate developers must go bankrupt if necessary (www.cnbc.com)

submitted 8 months ago by [email protected] to c/[email protected]

77 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 16 points 8 months ago (1 children)

Not afaik. Anyone buying an unfinished condo though likely already has a home, specially since China's home-ownership is about 90%.

And if they don't, they can buy one for much cheaper now cuz house prices have gone down thanks to this real estate bubble being popped. And China already has 600 million vacant homes.

This also coincides with the CPC moving funding from the overinflated real estate sector to the high tech sector btw.

particularly EVs

Geopolitical economy report has a more in-depth video on this.

[–] [email protected] 1 points 8 months ago

Here is an alternative Piped link(s):

Geopolitical economy report has a more in-depth video on this

Piped is a privacy-respecting open-source alternative frontend to YouTube.

I'm open-source; check me out at GitHub.