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For Firefox users, there is media bias / propaganda / fact check plugin.
https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/
- Consider including the article’s mediabiasfactcheck.com/ link
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Apparently a lot of people's investments are tied up in those properties so if they values tank they'll lose everything. Normally I wouldn't sympathize at all but Chinese people have very limited options to invest their money and grow their savings. They can't just easily invest in the stock market. Property was one of the ways of doing this. If enough people lose enough money , the good old mandate of heaven gets its foundations rocked.
Again, so? China's household savings rate is notoriously high because Chinese consumers do not consume at Western rates. Real estate should not be an investment and the people that got burned knew what they were signing up for. Everyone can easily invest in the stock market, but stock market returns do not go up infinitely because value is extracted by the government rather than passed down to shareholders. The safest investment has always been bonds, and municipal bonds in particular often have outsized returns relative to inflation.
Anyway, the market corrected 30% (after rising hundreds of % over the past decade), some people who could afford multiple homes lost some money, woe is them.
If you have a single home, you're in the same position you always were: you can sell your house and buy a new one, because at the end of the day you need to live somewhere. If you have multiple homes, you took a sizable loss, but you were buying up multiple homes and nobody likes landlords.
Basically, you're saying that the rich should get richer at the cost of housing access for the poor. Not very socialist of you, eh?
you say "property should not be an investment".
that's lovely. that's fine.
He didn't disagree with you, so stop acting like he did.
He said that it's one of the few / the easiest way for them to "invest" their money. Not save.
If your entire argument is that the Chinese stock market is as easy to access and use as the housing market, I'd want you to be very sure, and clear. Including bonds.
Ultimately, it looks like you just want to fight, but no-one is fighting you.
Small dog syndrome.
I, too, like evaluating investments based on "how easy is it for me to make" rather than "what is the risk/return."
you do? I'm very happy for you then. no-one else is evaluating anything here, so I'm glad you've found something to occupy yourself with.
Is this a common thing in the US? Evaluating investments based on how easy they are to make, independent of their PnL?
I wouldn't know. you're the only person evaluating investments that I know of.
You claimed that real estate is one of the easiest ways for people to invest their money.
nope, I haven't claimed anything.
you might be thinking of someone else. You can tell when you're communicating with different people on the internet by the name that is above the text they've written.
in any case, you should reread my comment a few back which addresses the subject of "easier".