China’s homebuyers default on mortgages, losing the most. Homeowners are the biggest loser. 

Patriotism of Xinnie PorkPooh #slopagandpa - With stimulus and measures, China's debt will be at 400% to 500% of its GDP in the next decade, according to Reuters. -Chinese 🇨🇳 property Ponzi sector, which accounts for 30% of GDP, is crashing -Tofu Exports and Western imports, accounting for 37% GDP, are down. -Foreign investment is falling over 90% compared to it's peak in 2018. -Foreign visitors are down 96% compared to the pre-pandemic level in 2019 with less than 200 americans left. -Consumer prices are experiencing hyperstagdeflation. -Youth unemployment hits over 21% (in reality 50%+ after eliminating faked numbers), a record. -It's fast shrinking workforce is 10 years old than neighboring countries. - During the years 1990-2021, the US printed 6.5 time more money while China printed 147 times. - It has printed more money than the US and Japan combined, while it's economy is only half of them. - Current Chinese debt-to-gdp is already highest in the world, at 300%, according to Bloomberg. How will you do in a world where real estate companies, local governments, and banks across China have crashed or fled? That is your challenge for the future (will you own a trash house with the mortgage?). Pensions will be laundered and your daily pay will be 2 dollars. Mengze harvard daughter: lives in US brother: australian green card daughter in law: british green card sister: canadian citizen brother in law: canadian citizen second sister: australian green card second brother in law: australian green card Arctic Catfish Shenzhen: laughs at how Leeks feed her WOW SO GOOD AWESOME Organ Leeks #sloprosperity #theskydontlie

nah the leaders of the bank already stole enough money to retire in luxury in the west.

All you have to do is to pay your damn monthly mortgage payments, the bank is being lenient with 3 months until foreclosure and if you still dont have income, thats just because youre incapable of financial management and/or suck at finding ANY job.

To be fair, the banks have very little choice. In case you have never taken out a loan for anything, this is how it works: The bank has already paid the developer in full for the house. It counts on making its money back as you pay down the loan. Until you pay it off, the house is collateral for the loan that you took out from the bank. Without the legal right to seize your house if you don't make your mortgage payments, the bank has no way to recover the very substantial amount of money that they loaned you. Only a child or a very naive adult fails to understand this.

Woof, the ignorance there,​@@terrycrews1584. I highly recomend getting caught up on the last 7-8ish months worth of news from the channels covering China and the ccp's shinanigans at least. Regarding CCP, you could be the shining role model in all aspects. (Finance, behavior, loyalty) and still end up in the same situation. If you are refering to a different country's situation, might wanna state it, cause from what I can see, @johnslst4232 was talking about chinese matters. Not us/uk or another country's situation.

@douglassun8456 in normal situations. That is true, you are not wrong in this reguard. Problem is in the land of the CCP, the banks have closed customer out of their accounts months at a time before.(I think the video from China observer covering this was a couple months ago? Give or take?) Last I recall they still heavily question their own customers on what the purpose of their withdrawals are. Drag on question and either waste time or decline withdrawals. Some of the reasons Were to pay for mortgages. Some of these folks were late because of their banks iron gripping the money of their customers. Doesn't mean all of em were perfect models with finances- good number of them just burned money as if the ash produced is needed to breathe. But not all of em did this.

It took alo't for china to get this far, they had to work and sacrifice alot. For the president of china to say its all his, it's megalomania.

You ate gutter oil and toilet vegetables hahaha 😂

Just ignore the thousands disappeared since 1989 like nothing happened. They never changed bud

Don't fall for the anti-China propaganda. If you went there again, you'd see that China is even more developed, open and prosperous than ever.

@@umanoomgombi3842 Nah, he has the support of majority of CCP members and Chinese citizens. Research about the CCP and how it works internally, you might learn one or two things.

the same way they claimed to have bumper harvest during the great leap forward.

AI 5G Expertise

5.3% 😂

Is it really that hard to see that they are lying? Look at us here in the USA. Our government is trying to tell us we have a strong economy with little inflation.

Seriously? That's brutal.

@@RUHappyATM So true!

30% on the complete sale price or "just" the gains versus initial price your parents bought it for back then?

@@HerrSchaft007 tax should be only on the capital gain

​@@HerrSchaft007that depends upon when the home was purchased and the value of it back then.

ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-pYA6qKg_fb4.html Home foreclosure crisis is worse in the USA

I invested in a cow

what you can learn from chinese people if you have excess money you can buy a home but if you can just break even on daily purchases and then you buy a home well your in for a rude awakening as you will fall into debt because you dint have excess money to secure the home and with chinas banks not wanting liabiility and debt they make the owner have the debt

But it was never a home, it was non-edible tofu. The tofu bubble built on tofu foundations has tofu fundamentals, it's literally a TikToking timebomb

​@@pv2639A fat, meaty Chinese cow that has been slaughtered...

@@chinesesparrows your right it is tofu

In the beginning, though....

Emperor Xi's fortune amounts to more than seven hundred million. How did he make his fortune?

@MichaudDaniel, FYI Xi’s daughter is married secretly to UK passport holder. In addition, Xi and his handpicked team invested into the EV trend hoping to dump EVs everywhere. But wait, the EU, US, Australia, NZ, Canada, even Taiwan and Philippines have started to effectively tax these Chinese EV’s 100%! Elon Musk is a little nervous right now because even if Trump gets elected, Xi’s plan of Chinese EV economic dominance is finished. Even the Saudis and oil rich nations are surprisingly not in good spirits! Ouch who called the kettle black!

Banks are state owned, they will refuse to take the blame.

😢😢😢😢loser, bitter and jealous.

It's actually the most developed and prosperous country right now... go figure.

@@m.x.no it isn’t wumao

I did for 27 years, I got out in 2019

​@@m.x.prosperous? Nice joke.

exactly homes shouldent be used as investment you either live in a home and pay OUT OF YOUR WALLET for the monthy payment thats a liability the home dosent produce income like a buissness like a food restarount where people come in and buy food no the home is for you to live in for at max 100 years so that can you give to your next family or die alone and then have government seize it or sell it off in a profit or break even or loss for some other family that wants it

@@Kevin-qj7fp Its a whole different mindset. China citizens think more houses you own = more prosperous you are. This mindset goes a loong way back since china ancient era.

@@Kevin-qj7fp Unless you are in the West, like Australia.

But what should Chinese do? Banks are poorly regulated. Stocks are full of scams. So that's why houses are the only choice to save your money. Well it was.

@@ОльгаАйнанэ Yup, I agree. Could be the government doesn't believe in capitalism...LOL.

LOL, you must be talking about the baby-boom era.

I've noticed but Chinese tend to take loans or borrow a lot thinking they can pay it off later...

😄

That's how most of the world works

They constantly feed the population of fake news and since they don't have information about the rest of the world they believe them. Is incredible how an internet wall can became the main reason to control the population.

Leaders have offshore assets and investments. They knew what was coming.

@@KoFu. It's interesting that in the past you needed a physical wall to imprison people. Today a virtual wall will work just as well.

Its 2008 crysis with chinese elements 😂

@@MrEvans1 Thailand, South Korea and Indonesia in 1998 - "Sit down sonny, you ain't seeing real shit yet."

@@thanakonpraepanich4284 whole different situation, that one was on purpose

😢😢😢America not China.

Wumao high on that copium 😂

Yea, but property developers have sold the idea of a home in a property to make a profit.

The bubble popped when evergrande defaulted now it’s in a slow down spiral

Hindsight is great, ain't it?

on the one hand your are completely right, on the other hand , in think, the chinese people dont have much alternatives for investing. Stocks are not that common, there. Thus you should rather blame the government and not the people.

do they send tanks?

The majority support their leader, what are you talking about?

They could impose the death penalty for not paying your mortgage.

​@@billycarr7446 no they cant😂 Who is gonna work and pay taxes? They already have a natality crysis

Rmb

She lost 0.5m, plus the amount she has already paid to the bank. Remember, she borrowed the 1m from her parents.

@@RUHappyATM well technically she lived rentfree during that time, which should be accounted for as well .

@@HerrSchaft007 Rent is sledom more than the mortgage payment.

The world is a tough place cupcake. You buy more house than you can afford and the economy turns South and someone is supposed to step in and save you? Who would that be, the banks, the govt, maybe your Mom n Dad? I bet next time the woman will consider her finances a lot more closely. Her best bet may be to insure her apartment to the max and start a fire in the empty apartment next door or below hers.

They are a mixer race. Pure han is weak sauce.

The Van Life, China Edition.

It's collapsing now. When millions of people are losing generations of wealth that's kinda sorta collapsy, don't ya think?

Waking up every 14th of each month to $210,000 it’s a blessing to I and my family… Big gratitude to Andrew Stella 🙌

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Had my exchange rate calculator on. RMB 2 million is about USD 275,186 today. That is more or less, an average C-Suite lower-rank Director's annual pay.

slow, boring life?

Like you?