this post was submitted on 06 Jan 2024
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China
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Western media can't understand a real estate sector that focuses on housing people rather than creating investment income, so it can't properly report on China's real estate sector
Yes, when Evergrande fail to pay their bondholders due to insolvency it's actually a 4d chess move to house the people.
The people are already housed, China has 90% outright house ownership (UK has about 30-40% btw) whats happening here is that its peoples second/third homes that they planned on handing off to either family or built for projected population growth that turns out has slown down a little.
They literally have too many houses. I know what issue id rather be having.
90% ownership is impressive.