Why China's Crazy Housing Bubble REFUSES TO BURST! 

My ex was Chinese living in America and wouldn't invest, even to get her company 401k match. She was a stats masters or something and should've known about the math but wouldn't do it anyway. I wonder if it was a cultural phobia.

They have new money syndrome and are convinced that property values will continue to rise indefinitely.

You cannot buy land in China, only lease

Not that different from the USA. You pay property tax

@@slickrick2420 The difference though is that if you have kids, they can inherit your property and keep it so long as you keep paying property taxes. In China, you will inevitably go back down to zero unless you sell your property to a sucker willing to pay an arm and a leg for a shoddy apartment that's overvalued.

@@patrickt49 You can renew the lease for another seventy years. If the government decides to break down the building, they will compensate you. How much compensation though, I don't know.

Yeah, taking out loans from state run banks to prepay 70 years of rent, as "purchase". What a joke.

wow

We need to measure happiness directly not GDP haha. On the other hand imagine a society based completely on improving productivity and improving health.

@@aoeu256 GDP per capita is productivity

@@benchoflemons398 Productivity can be measured by GDP per capita, thats literally what it measures lmao. Who should I listen to? You or my macroeconomics textbook?

Reminds me of some great sci-fi/dystopian music on the theme of endless recycling: the album “Recycled” by the ‘70s German band Nektar. It might not be for the faint-of-heart, so check it out! 🙂🎸

It seems to be a Communist thing

@@peterwarner553 Hmm. Good point.

Creativity isn’t chinas strong point

@Đức Trần it's soulless

I live in a concrete box. It looks nice if it's surrounded by trees. Like a big rock in a forest. It is ugly without trees tho.

True

Philippines too

verified in Toronto.

The commies never died. They just put on another coat called fascists. Never change CCP.

Most people don’t realise we are in the middle of adjusting to a booming.China.

That's because they used leveraged debt to get more properties. Your goal should be to pay off the mortgages or at least a percentage of them to hedge against exactly what your talking about. Also during housing crashes it becomes a renter's market which property owners can permanently or temporarily pivot to.

@@joshuasterling2144 Yes, but when the music stops, what do you have? I guess it was easier for the older generations to use buy and hold strategies.

It was a good game if you were willing to accept the music wasn’t going forever. It’s about to happen again, banks are doing the same shit under a different name. Stock market has so much bad money in it from first time investors that the moment it takes a hit it’s going to turn into a hemorrhage.

You get to keep your house in China too but you pay 2% of the original value to renew for another 70 years. Similar to property tax in US. Keep in mind there’s no such thing as property tax in China

I’ve lived in the US my entire life. I love the US. It isn’t perfect and has many flaws as any man made thing would but ownership of land is a bit of a myth. Stop paying your property taxes and suddenly it’s not yours anymore.

@@spartancrown Fair point, especially coupled with Eminent Domain.

@@Raptor302 I strongly agree. But China is a case of eminent domain on steroids.

No one really knows how the 70 year thing will work out. Who knows what China and its government will be like in 2050...

tier 2 cities in the north have been getting hit too. Tianjin since 2017 is down 21%. My landlord in Qingdao has been trying to sell my apartment for the past 2 years and only 2 ppl have come by to look at it. Just recently negotiated 15% off my rent 3 months ago. Can only see that number going down in the near future.

"If you build it, they will buy" ? That's a misquote of the line from the 1989 movie “Field of Dreams”. Poor analogy no applicable to China. Firstly, who's buying? Most buying today are 2nd and 3rd dwellings which most people can't afford. Therefore, it's not for shelter but pure speculation. But we all know that's an economic reality of local officials grabbing land to sell to developers for tax revenues. However, the real estate party is about to come to and end the next 5 - 10 years. There are over 65 + million empty dwellings. Who will move into these dwellings when over the next 10 years the demographic decline (fertility rate) will see people retiring to almost 20% of its population. China can't stop this - it takes 20 - 30 years to grow a productive adult from childhood. This will not end well for China's economy.

@@hstad100 I agree! Good observation.

@@AW-lq2zv Tianjin is technically tier 1.

@@hstad100 Entire "ghost cities" that will be a big write-off eventually.

Damn.. that's a great analogy..

Didn't you know? Communism always loses.

Serpentza and his buddy Laowhat's-his-face are two massive losers though.

@@amazingdany who's the bigger loser, the loser or the one who comments their RU-vid video's comments?

@@svenshruufx7380 👏

That's the same way I felt when I lived in China. Who can afford to buy these boxes- only wealthy speculators who got in early. I think it's just speculators selling to other speculators. The people who actually live in them are renting.

bitcoin is still new. property for now remains the gold standard when it comes to money laundering.

The chinese are driving up housing prices in all countries.

Same in sweden except on the countryside where there are no Jobs so you cant afford to live there anyway. E Almost all apartment owners in the capital and 3 biggest cities take bankloans and pay for apartment that way and then live in the flat and pay off the debt little bit every month but basically the banks own the apartments.

Build in the suburbs and pay it back over 30 years.

@@tomzhouschannel968 ???? Do you not understand finer English? He obviously doesn't LITERALLY mean it's a religion, have you never heard of figuratively? And the point still remains that religion in china is either red washed or stamped out

As if religion is something desirable for the world. Religion is obviously an outdated thing, and human beings should have outgrown it since science was discovered.

hm there is a well known paper published in the studies of humanities where it explains how the christianity in America differs from those in Europe as the higher God people pray in the USA is $ money

@@melvinf78 The thing is that people as a whole literally need the fear of god put into them if they’re to behave themselves and live morally. To that end, I see religion as a very important element of a well-developed society.

@@rubyy.7374 Sorry I have to disagree. Those who have to resort to the fear of God to find the sense of responsibilities are actually under-developed peoples.

In Montreal too it's becoming more and more common. Price of a 5½ increased 50-60% in 5 years. MTL Suburb Houses went from 300-350k to 700+k in the same time. I've heard and seen 3½ go to 1200$ CAD/month. It's absolutely insane. And then they have the balls to complain about ppl leaving the city... Well DUH ! You inter play the market and get rich (barring bad luck), or you decide not to play that game and move away. Wages aren't keeping up AT ALL with the sudden increase in cost of living either. This does not bode well.

@@Francois424 This why I will never ever buy overpriced property.Would rather rent someone must teach these greedy asshats a lesson.

@@kaputasri except renting is also fucked by the same owners

That's from chinese foreign investing

It different though because China users this in there growth fissures so they are happy these buildings are build that might fall down as the growth is calculated if it had to be rebuilt and then they can attract investors .

Not really.

Bless you serpentza. Keep the pressure on them.

Love your videos. You should do a series on the uighurs

Serpentza I agree that they are definitely over-building to capitalize on the hot markets. But I may be missing something in your analysis here. It sounds like you're saying they tear down old skyscrapers to build new ones and "start the process all over again". Is that really how it would work, though? If they knock an old, dilapidated 250-unit apartment building that was sold out in order to build a new 250 unit building, how would they make money? The units are already spoken for, right?

@@JarretGibson Mortgaged out, then people default. The ‘banks’ own them then. Just a guess.

It's actually worse. Look at the movie Justice League - they fired the first director and brought in another to work mid-way - resulting in a product that makes you vomit.

If the result is that other people are willing to pay more. That is the definition of economic growth

@@shachar2 lmao, learned that in a Chinese University, did you?

Seriously thank you serpentza you are brave for what you do and you have truly inspired me and you give me hope we can inform the world. I can't thank you enough. You are a cool funny , smart, and over all awesome dude 😎 you and laowhy both! Love from san Diego

I’ve only heard that as a joking illustration of economic forces, no one was ever meant to actually do it.

Yeah. In Moscow most of the flats have 20-40sq meters. And you will be lucky to rent 40sq meters for less than $1000. Right now i'm renting 20sq for $700

In Panama that's a $165 K apartment in a centric Area

For reference, 80sqm is the minimum standard for a new build UK home, for 3 bedrooms housing 5 people.

True :D I've seen advertisements for 17m² flats. 80m² is huge for one/two person

Actually, he does a pretty good job of it. The Chinese (I’m ethnically Chinese) are OBSESSED with real property. It’s cultural and bone deep. The price rises? They bid more. The price falls? They buy another. This is demand on steroids. You will never understand the grinding mindset of the last generation of Chinese born during the Cultural Revolution and before and even up to the 80s. Real property of bust. It’s only the generation after who may care less. They will be the beneficiaries of lower costs of real estate when the previous generation passes and homes begin to flood the market. But even that might not happen. The Chinese collect these things like Trading cards. It’s gotten so bad that quasi-political interest groups’ interests are vested in keeping the market sky high. Same thing here in America. You were born in the middle class? Get ready to die poor.

Doesn’t Australia have empty housing tax?

@@freedomlife3623 No, but it's about to be introduced in many states.

All assets are in a "bubble" but it is driven by the expansion of cheap credit and fiat money (Asset inflation). Your money is just worth less now.

That's why crypto currencies are rising up

@C M When you Google translate the characters for China one by one you get something like "middle, kingdom" or "middle, country".

It’s also incredibly shortsighted and rude. I have personally met follows of Christ in China.

@@derekeano You're missing the point of the quote.

Still sounds like an ad hominem..

@@derekeano The point is that China is a very Materialist society, and as such is focused only on self-enrichment and wealth-acquisition. Christianity grows rapidly in China as a result of the spiritual emptiness of Materialism and of the moral-relativism that has developed there due to the numerous folk-religions and philosophies there.

That is the best way to deal with it, but they'll find a way around it, like pay someone to visit the house once a week to make it look lived in

@@serpentza This is correct, and the predominant vehicle by which these hoops are jumped in Vancouver. I’ve known a few individuals to have a side job where they do this, staying a day or two per week at different properties to check the box and avoid taxes. This money, and the gross appreciation of residential real estate assets, has made Canada rich... but it is a runaway train. Words cannot fully describe how irresponsible it is towards present and future generations.

@@serpentza I would take that job... And then sub let the place, and keep the money.

Some young people I know who live downtown confirm there are a lot of empty units. There is a building near where I work that has no lights on at night and no personal items visible. It must be completely empty. I thought it might be a missile silo or an underground bunker for an intelligence agency. Perhaps there is a simpler explanation. In Europe a city worker makes a surprise visit a few weeks after you move in to ensure it is your real home. They come in and check your fridge and closets to make sure.

Same here in Australia and other places. Try to buy a house in Sydney or Melbourne.

As a famous phrase goes, "a rolling loan gains no loss".

-- China & America are like Russia & Japan, 1989. -- 10 year T-Note yields will drop below zero. -- Inflation & Growth will slow ( due to the lack of babies ). -- Crime will skyrocket as bankrupt judges/people fail.

This has been the observation from the people who actually bother to look into details instead of listening to the stories told by the CCP. In fact, there are many similarities between the USSR and China. At its peak, the GDP of the USSR was 1/3 of the US but now the same area is at 1/16 of the US. It's the classical example of building a giant construction on clay ground. What will happen if the western consumers finally get tired of the aggressive CCP and stop buying Chinese products for political or human right reasons? How long will it take before it all crumbles?

​@@royarnehansen: > At its peak, the GDP of the USSR was 1/3 of the US > but, now, the same area is at 1/16 of the US. My point exactly. Communism - always - fails because no one cares about stuff they don't own. Only idiots vote. At first, everyone wants "it" ( free stuff ). Decades Later, they realize that life doesn't work that way. Free Rent. Free Money. Free Drugs. Get Out of Jail Free. What could go wrong ?! Feed the pigeons & you just get more of them. Reward Virtue. Punish Vice.

@@jeffrelf I guess you can discuss if capitalism is the best system for the distribution of services and wealth, but it for sure is the best to create a surplus that we can live on. The problem when you have a "constructed" economy it is built without a solid fundament that makes it bounce back fast. The whole economy is like a Ponzi sceme.

And he has forgotten: No home ownership, no social benefits in a district where you were not born.

Opp looks like another is starting to fall today.

@@hepthegreat4005 yah, sure. Even a stopped clock is correct twice a day. this was six months ago. this crap has been known in finance for a decade or more.

@@Dwightstjohn-fo8ki And it's now falling apart. The biggest collapse come not out of nowhere, but the scratching of them head, how the fuck did it last for so long in the first place? Then you find out the cockroaches that nobody really knew about that allowed the infection to fester to the point of death. If only people listened and examined. Instead of went along with it to the point that so many people are harmed by the vicious stupidity.

Is it that different from what is happening in the US now? The US is clearly in a housing bubble 2.0, and without a Republican president or good economy anymore we are certain to pop soon. Our pop will be less painful then Chinas but still. I’m rlly expecting another 2008 soon

@@LucasFernandez-fk8se Bra, have you ever heard of the Sydney housing market lol? You get a 1960's shack in a shit neighbourhood for > $1M.

These are the same prices in LA. The prices are actually even higher in Singapore and Munich. This video is just made by a propagandist, he earns good money making these nonsensical videos.

@@LucasFernandez-fk8se isn’t the first housing bubble happened under a Republican President’s watch? Fact, last 3 depressions are under Republican Presidents watch. You need to educate yourself on history bit more before making claims.

@@gomiladroogies5951 This channel is about a Westerner's view of China, by a guy who's lived and worked there, speaks the language, and has married into a Chinese family. This isn't a channel about Singapore lol. However, yes - OBVIOUSLY - China isn't the only place in the world with a real estate bubble, but it is the only place where public funds build mini cities that crumble within months and were never occupied. The fact that you call any criticism of China "propaganda" is, in itself, pro-CCP propaganda. Prove me wrong by listing the 3 worst things about the Chinese government lol.

lol I love it roll the dice Macou style

I mean yeah, it really looks like the US suburbs except with apartments.

Tbf most countries have this issue, but like everything in China, it’s much more extreme

Why hasn't it crashed though? That's just a fact of life. Every bubble burst, prolonging it only makes is more painful when the crash happens. In my mind, The only way is by cooking the books. The gov controlled banks probably won't let any of the loans go bankrupt, no matter how bad it is. And since they control everything money related, as long as people can make their purchases to live, there probably won't be any bank run. The only way they can get any relief is if they sold their bad loans to foreign investment. In other words, they need access to foreign funds. Fool the foreigners into carrying their bad debt. It's a house of illusions. Sooner or later, people will realize that even the trusty housing market is fake. If the compensation for losing investment value is decided by the gov, why would you continue investing after getting burned multiple time. I'm guessing this is why the gov is cracking down on bitcoin. They saw that the people are starting to avoid the property market, and start investing in bitcoin and other crypto currencies instead. The 1% are buying up properties overseas, while the rest of them are buying up bitcoin. That's a huge problem, if their economy is driven by the property market. If nobody is buying new properties, their economy will cool down significantly.

@@stefanyuwono1909 The solution is a centralized didital currancy. China is already testing this in some regions. ECB (European Central Bank) has also devised a digital Euro. When the next big crash happens they're ready to pull this out. And this is very possible due to Covid and the consequences of the Lockdowns. But there is one big downfall with this: This gives the gov. absolute control over you. They can simply deactivate all your digital money and your digital-money-account, restict the region you can spent your money, prevent you from traveling, set an expiration date on your money - so you are unable to save it.... Everything is possible. I am shure that the FED has kind a Digital Dollar ready for such a scenario as well. Bitcoin will be skyrocketing if China bans it and launch it's own centralized digital currency. But what if the EU and USA would ban BTC too and launch their digital currencies?

Interesting concept. Generate economic activity by producing nothing of real value. Seems a bit house-of-cards-y to me.

@@grizzlygrizzle US military spending follows a similar principle though...

@@stefanyuwono1909 because if it did the CCP won't allow negative news to leak it'll just patch it until it recovers

quantity GDP over quality GDP

none plans to buy them anyway.

I seen a documentary about high rises in the UK from the 1970s. They had similar issues with corrupt construction companies who tried to make any kind of profit at the cost of safety. And like in China, some buildings crashed. A worker who was interviewed said he would not live in those houses, because he knew all too well how those have been built.

It happened in the Soviet Union in the 70's too. Same concept. The contractor building the place holds back materials to do more construction projects. Quality suffers. Building falls apart like a decade later.

@@MegaBanne Won't prevent any potential deaths.

@@samalass466 None is going to live in them.

Lool :) good one matey

so-called tofu buildings.....🤣💦

Looks like a war is coming. Or something disastrous.

the entire global economy is inflated with easy money and overdue for a catastrophic reset. Don't think this is going to be confined to china.

Heavy-handed human and/or government intervention to that degree in the economy and finance cannot help but end in catastrophic mega-disaster.

If I were you guys, & I do agree 1000% with every reply so far on this comment. What I would do is start buying crypto. Dont laugh or turn your nose up at the crypto industry. The WHOLE point of it is too strip the centralization away from economics and commerce. I’ve made a lot of money from crypto. BUT that’s not what this is about. We all know the bubble will burst ACROSS the globe. Everything the government in each country has power over and or presides over will collapse. Wallsreet stocks are doomed. The next 10 years or less, the USD will be inflated into extinction. And NOBODY will have a dime to give or even accept. Point being: you need (we) need to be prepared. So when economies collapse. You will have the future in your pocket already. There will come a time with Cryptocurrency where it will be too exclusive to buy, or come-up on and YOU will be fucked royally. When everyone is poor and suffering because of lack of money or food or commodities. I will be ready and be consider rich, due to the crypto I am hoarding. It’s not too late. But if you wait another year or 2. You might regret it

That's called Capitalism

Then you have not read about Citicorp Center yet. They lied and hide the truth.

There's a name for it "programmed obsolescence", capitalism at its prime for wasting resources for profit.

@@stefanc4520 Does that mean China is more capitalist than the rest of the world? Since this is a problem that is especially acute in China..

@@andersonlucas1951 Not really. Programmed Obsolescence only works when your competitors are also in on it (see the lightbulb conspiracy). Or if people are dumb enough to continually buy your products (see iPhone users). But this is why we need government oversight, to prevent monopolies/cartels and to prevent companies from purposefully negatively interfering with your bought products (see older iPhones being purposefully slowed)

Please take note that i'm not trying to perpetuating discrimination toward ethnic chinese in indonesia since they used to be discriminated like white people in south africa

You don't need to apologize if you're telling it as it is. Nobody is perfect. We all need criticisms in one way or another.

@@polarbear6597 nah you're right the design is atrocious

@@wisdomleader85 thanks mate, i'm indonesian born chinese as well, so i assume that i have more privillege to criticize my own kinds since many of my non chinese friends here in indonesia are too afraid to say anything bad about china or even CCP because of past discrimination and yes ! Political correctness not only exist in the west , its also happening here in Indonesia.

@@polarbear6597 Do you mean discriminated like BLACK people in South Africa?

That definitely describes China.

Cases here are more complicated in China mega cities. If u rent a house, it will be almost impossiblefor your children to enter the high quality, reasonably priced public-owned schools, while private schools are either amazingly expensive or of poor quality. U might know how crazy the East Asian guys care about their children education. Surely this also contributes a lot to the bubble, more debt, bigger leverage..

Not always, as the demand might be growing disproportionately among different types of property. If rent is a lot cheaper it simply means that RE is a bad speculative investment, but it does keep it's utilitarian value still. But in general you quite right in most of the cases.

I call them places to store workers between shifts

Exactly my filing!!

She's not wrong

Privileged people love to say that. If you live in Sydney, “people filing cabinets” are normal here too.

@@Ni7suj_ My mother was far from "privileged" she grew up in the country during the Great Depression.

Sad but true

It's capitalism unchecked

And the irony is when they come to the US they expect even worse, since we historically haven't shared their collectivist values.

Its the actuality

@@serpentza You are right on that. Sadly not too many folks either from China or outside of China understand to that level. If you look deeper into this as why it is like that in China today, the reasons behind this will make you heart broken.

Well. Look at Hong Kong’s housing price. That’s where Shenzhen will end up. They still have a long way to go so not sure if you’ll live to see it

@Ernest Khalimov well now it is

The infrastructure in the US isn't poor at all. Sure, the EU has better roads but the ones in the US really aren't bad. There are trains where they make sense: long-distance cargo trains, passenger trains where there is a reasonable population density, metros in (some) cities. There are no silly railways to the top of all the mountains or trains where it makes more sense to fly. There are no absurd bridge building and tunneling going on to bring railways to steep mountains where a serpentine road for cars would make so much more sense.

Yesss

If you really live in the USA, you would know that someone from the USA doesn't refer to a backyard as a garden (unless you are not a native English speaker...), and people do not casually own houses in the middle of Seattle. Is there such thing as a "reverse wumao"? Because I am suspecting this channel has a few.

@@SUpersaiyajinjerkbag Wrong and wrong

@@SUpersaiyajinjerkbag in BE Your backyard is a garden.

The funny part is that it’s basically just foreign Chinese keeping the real estate market alive in places like NYC right now. All the rich people in NYC are leaving for places like Florida since everywhere is closed due to pandemic and businesses are leaving NY. (E.g. Goldman Sachs is considering moving its headquarters to Florida, a lot of execs have moved out already). You’d expect the market to totally collapse but foreign Chinese investors ar buying up the apartments, probably never planning to live in them lol

@@Brad_A LOL unless your living next to homeowner who pays 1 percent and doesn’t care if they take care of their property. then your in the lucky 1 percent who lives next to them. Understand it’s not all. Not saying that

Chinese don't really care about land ownership and pride because their culture never really see the significance of land. They only see what they can get out of it. Land is just an imaginary border drawn by people if you think about it

Japanese had the money back in the 80s, and America did not like that. We all know what happened then.

Beijing and Shanghai have already set restrictions where the married couple can buy at most 2 apartments and the second must be paid in full. If you are single you can only buy 1. The property price has been rising much slower right now but as Chinese cities expand at a crazy rate there are still many people trying to buy a house in the cities.

damn

sold it-that's the key!

4.3 million of what ... Renminbi, Dollar, Euro, Zimbabwean Dollar, Marbles ..?

@@NeinDochOhh renminbi ig

Definitely RMB

It's even crazier when you think about it. That 70 year ownership of that concrete box can end at any minute when the local government arbitrarily decides they need more money and just goes in, kicks out the owners or sends in thugs to beat and hospitalize people and starts demolishing buildings.

@@rickytleung Yep, it happens way too often in rural areas where there is little to no oversight and all it takes to depopulate half a village is a bribe to a local official.

@@XenosImplyer I have been watching reports of this happening in Beijing for the past few months. They were apparently cutting off electricity and gas to forcefully evict them even though they only completed around half of their lease term. They were doing this to old people too and it was in winter where people evicted like that were suffering on streets in the cold, there were videos of this.

People don't need to pay any property tax even when the apartment price streak up 10 folds more, so pros and cons, people make their choices

Hail Chairman Mao!

Yeah you are right because your children will be living after you, it would be better to live far from such buildings than near it.

It’s most homes in America imo. Like how many homes do u expect to last 80-100+ years? We either tear down old homes or they fall apart if they become abandoned for ten years

@@LucasFernandez-fk8se i've lived in 150 year old appartments more than once

This is like the best vibes I’ve ever had from a comment I couldn’t agree more, plant a tree knowing your children will sit in its shade

Decades ago, CCP systematically destroyed identity and heritage of very rich Chinese Culture and turned them into mindless zombie. Just read about History of CCP during 1940-50s. It's just absurd.

Well it used to be that way and is still the case in the countryside, but rapid industrialization just destroyed china

Apparently Chinese government are not smart enough to prevent real estate malpractice, just like NYC real estate.

Try to whitewash it through gambling in Macau maybe?

@@ridick4nothing Not as effective as it used to be.

You can blame these people for twisting these rules. To borrow money from your relatives is fine, only if they have the money, and they should indeed formalise this as well. Or to have it in writing, as that they are a guarantor or something like that as well. And in black and white, how it is to be paid off. Tying a person to a city, is trying to build up that city. Just like in HK. Once it is full. There should be nobody else, allowed to move into that city or area. If you lose a job, you are supposed to find the same job, in your own hometowns !!! You cannot, or is not allowed to move to another city, so easily !! I have only ever lived in HK and in the UK. And I was born in the UK. It took my family, at least a good 1-2 generation to find the money, to build our own house. And it took my family, at least a good.... generation to keep and to sustain the economy as well. My mother was not educated. She was not even allowed to go to school back then. Her children had standard education and it was free, up to 16. And then for me, I was lucky that I got a free uni education in the UK. But I worked hard. I pay and I rent, and I pay back, and save save save. People save and put it back into the banks. And then banks lend it back to the business world. This is how it is supposed to go. Between what is happening in China, and then in the US. The combined efforts of you guys are definitely screwing up the rest of the world !!!!! Please stop !!! A lot of locals even here are like you guys.. They just now, suddenly, realised that there is a demand for houses... They now, take things back into control and do up the old houses. Cos they see others also doing the same as well. This kind of "fighting effect" is often the way, isn't it ??? Cos people do not want to miss out. But then, back in the days.... when the local government takes care of many areas as well.... Just...

There have been deaths and violence over displacement of people when they build new housing Not often but it happens

do you know what kind of house she has in China?

I bet you want detention. Big brother can detain anyone getting in their way of making money with any excuse. You don’t get to complain. Watch out

Exactly! US baby boomers in for huge unpleasant surprise when their 401k's disappear in China default. Wall Street and hedge fund managers are selling us out. Its frustrating to see it coming but not sure how to avoid the impact.

They won't allow it to "fail". Whatever it takes . . .

Of course!! The CCP won't allow negative news to leak it is a miracle 😆

the only true safe investment is guns, gold and farmable land.

interesting so it is the only way to save money without losing money due to inflation right?, So if you put your money on the bank with like 0% interest than you actually end up losing money due to inflation. I have never been to china so correct me if I am wrong

Can't wait to hear his laymans attempt to understand monetary theory.

@@henry-bn2se If buyers have to borrow money from bank, the mortgage rate is pretty high in China. If you have money ready in bank, then buying an apartment may be a good strategy.

@@m8596hk OK so as an investment for rich people. Like intrest rates are actually pritty High in China so all Things considered if you put the money on the bank you still make money Just Googles IT XD even though inflation. So I was mistaken. Still dont understand the money is worth less Part of the comment as sure interest is low but inflation isnt abnormally high so putting Money in the bank still somehow Makes sense

What's scarier is the people who defend it

What’s scariest is that Winnie The Pooh is banned.

And many people in China thought this is NORMAL!

@@LeisRealTalk Well they grew up around it so,

@@LeisRealTalk @ LOL.... No way !!!..... OMG.... Whatever happened to getting a generation of educated individuals to make it work so ?!!?!

Cos China has a monsoon season... and it is good for rice, and not necessarily a concrete building. Good buildings, from the past dynasties.. were built from porcelains. Look at the last flooding.. Which building stayed upright ?

Yeah, US real estate sellers use cheap contractors too. House have all kinds of issues. Sell it for the money. Get a better quality house, security is more important than size, when you have limited budget

So you think a apt building will still be in mint condition after 20yrs..gtfoh.

@@maolo76 it is here in europe. Btw if chinese gov owns the land and real estate is leased do they technically have to tear down and rebuild if the housing becomes too unsafe to live in? Then give free housing to the owners of the previous homes. That seems like a dumb business model. No way those homes last 70 years.

@@chrisblue4652 good. In China it depends on the local government, some location is so far behind on standards and regulations etc and they would allow shady acts of big companies. It will take a few years, if not more, for them to catch up to developed countries.

this applies outside of china too you know.

Norway has a insane housing bubble. Students are buying and the crazy things is that they buy together as they can’t afford it 😂 stupid people....I warned them, they didn’t listen. It will be great time to buy everything when it crashes. Can’t wait

Hier ook al? Ik weet dat het in de VS en Australië gebeurt maar nu ook al in Nederland?

@@Kakariki73 Ja meer dan je denkt. Vooral omdat ze als collectief kopen. Met zijn tienen koop je zo een pand :)

@@MrCrabs231 marijuana farms? Now that is something you 'can' expect in the Netherlands 🤣

@@Kakariki73 Don't get confused :) The law on weed is very strict in Holland. There are coffeeshops but to get the weed go's in "illigal" ways. The US (some states) are way more ahead than Holland. Also chineze people buying houses here in Holland also to grow weed :P (illegally) but these are just rumours that I heard.

@@demogadget true, I just realized that, 20 years ago it was a different story off course

Here to ask about the 3rd thing if you remembered

That is a problem of real state industry. They try to make you blaming other people for it and keep ripping you off. So much land are under their control, not your control.

from Asianometry?

Please provide a link. Thanks

Wendover made a good one recently

@@ryanwilliams3857 polymatter too

Very glad to see many channels expose this! Chinese people suffer so much from their government.

Yeah I mixed them up

@@serpentza An easy to make mistake. I'm not a native American either and also had to get used to stuff like that. Very good and informative video, by the way.

@@TrangleC ? English is his first language. If anything Anglo SAfricans have a better grasp of the English language than the Yanks.

@@andrewmoir That doesn't change that certain terms and colloquialisms are national and aren't the same in every English speaking country.

@@TrangleC Very good point.

the emperor has no walls

Are they cheap? I would assume these are getting more and more expensive.

@@2hotflavored666 I remember when you could get them for nothing. China is a huge country so I'm sure they are priced differently wherever you go today. About 10 years ago siheyuans were becoming more and more expensive, especially around arts districts and urban centers like Beijing. I remember one selling for $1million but it was a masterpiece. Today, most siheyuans are subdivided and house different tenants but I'm sure there are historically preserved single family homes still around. There is no other housing like it in the world. Siheyuans are singular, built to last forever, and are one of China's national treasures. The Chinese art market has taken off too and I'm sure sophisticated collectors are swapping up these homes.

@@davidhunternyc1 Interesting, thanks for the info!

Are they expensive??

“Authoritarian government who doesn’t value them”. The siheyuan type houses are one of the most expensive houses in China. That is why barely anyone can afford them.

Problem in Australia also.

@@gladiammgtow4092 big time