Beijing’s ability to manage real estate also comes into question after considering how poorly the authorities have managed things to date. Prior to 2020, Beijing actively encouraged residential real estate development, pushing local authorities to get involved and ensuring easy credit terms for both developers and homebuyers. Private builders and speculators responded actively, taking on debt and pursuing increasingly dubious projects so that even as China was meeting its housing needs, such development reached the astronomical level of some 30% of China’s economy. Then in 2020, Beijing abruptly removed all this support. Not surprisingly, the highly leveraged and extended developers began failing almost immediately.

oh no! not the speculators! it would be a real shame if a bunch of capitalists lost tons of money and all we got out of it was all this housing that now we can buy up for cheap!

If the leaks and rumors are true, Beijing stands ready to launch a new and radical solution to the economy’s property crisis – a government takeover.

Leaks and rumours?

Isn't it what they said they would do ages ago?

There is no 'property crisis', its made up by the market.

When 2008 housing bubble burst, the problem wasn't that the homes magically vanished, the homes remained, taken over by ghouls and leaving the individuals with debt which wasn't wiped off clean.

Oh, did someone get addicted to property speculation?

This dude has written at least 9 China bad articles in the last month.

Lmao I thought the title was just the OP dunking on Forbes, but it's the actual article title, this is beyond parody

use government funds to buy up bankrupt properties so that in time the government’s role in real estate would rise from 5% of the market at present to 30%

We should let unused, bankrupt property be repo’d by banks so they can use it to gamble on doge coin

This is my dream result for the YIMBY movement. Dense infill housing built in all cities and then immediately expropriated.

Also it's very funny that 30% publicly-owned housing is communist when I'm pretty sure Singapore has a much higher percentage.

Lmao, what "crisis"? That there's a surplus of housing and people are easily able to afford to live? This is what only being able to see things through the lens of profit does to a mf.

This is journalism? With these writing standards you may as well hire a sixteen year-old for $7.25 an hour.

Oh, a government program to buyout defaulted properties? You don’t say?

it would in the long run do tremendous damage to China’s economic prospects.

Says the people who's advice leads to less than half the economic growth that China has on off-years.

A big step in the right direction, but let's be real, this is basically just Keynesianism

Liberals critiquing Marxism: “Fear not, for Don Quixote has come to relieve you of your delusions! Those aren’t windmills you’re seeing, you utter fucking morons, they’re giants! Wake up sheeple!”

They can't keep getting away with being COMMUNISTS!

So glad they could tell us what to think of China's plans (foolish) rather than just do their damn jobs and just report the damn news and save their opinions for their damn blog.

If you have the resources you can decide to just build houses and cut out the speculators. Also, power comes from the barrel of a gun.

When Forbes accidentally gives Xi leftist street cred.

the maoist uprising against the landlords was the largest and most comprehensive proletarian revolution in history, and led to almost totally-equal redistribution of land among the peasantry