Posted on 11/26/2023 1:23:14 PM PST by davikkm
Amidst the deflation of the Chinese bubble gaining momentum, Beijing is responding with increasing desperation, resorting to extreme measures to salvage the nation’s financial stability.
The property market is at the epicenter of the storm, with policymakers applying unprecedented pressure on banks to address a monumental $446 billion funding shortfall. This funding is urgently needed to stabilize the industry and complete millions of unfinished apartments. A draft list of eligible developers, including industry giants like Country Garden Holdings Co. and Sino-Ocean Group, reveals a strategic pivot to aid some of the most distressed builders.
However, the challenges are far-reaching, encompassing millions of homes sold but left unfinished. More property developers defaulting on debt adds to construction delays and stalls residential projects, triggering a vicious circle of diminishing confidence in the housing market. Analysts estimate around 20 million units of uncompleted and delayed presold homes across China, necessitating over $440 billion to finish these homes.
(Excerpt) Read more at citizenwatchreport.com ...
Too bad. So sad.
China be screwed! They’re so broke they can’t even afford internet trolls anymore!
All the Chinese have to do is to go back to complete socialism and forget trying to join the free-market/capitalist system. They have no idea about how capitalism and the free-market work, but they do know how complete government control works.
They need to ask Biden and democrats about how they’ve been able to socialize the American economy. It’s working fantastically in America. Best economy ever, according to Biden and democrats.
It’s communist it’s always in a colossal financial crisis , LOL
The real estate bubble probably won’t take the ChiComs out but it might put a lid on their antics if it doesn’t get too severe. If it blows up the ChiComs might think war is the only answer to focus the Chinese citizenry towards a foreign foe.
Anything like being $42 trillion in the whole with unfunded liabilities of $93 trillion?
Until it gets into the trillions to approach our deviate behavior, I guess I don’t see that big of a problem.
Only $93 trillion say?
Surely you jest, as America is probably deeper in the hole than that.
Omega Man
https://www.aei.org/articles/federal-unfunded-liabilities-are-growing-more-rapidly-than-public-debt/
Where Truth in Accounting reports $162 trillion (not including unfunded Social Security and Medicare promises).
https://www.truthinaccounting.org/about/our_national_debt
Two communists are talking, One says to Two, if you had two cars would you give me one?
Two: Absolutely.
One: If you had two TV sets, would you give me one?
Two: Of course.
One: If you had two chickens, would you give me one?
Two: Absolutely not!
One: Why not?
Two: Because I have two chickens.
We have at least 20 million illegal aliens we can send you, no charge.
Unfinished homes and apartments are a feature, not an oversight. They never were intended to be finished. As finished homes and apartments begin to crumb after a year or two, the residents are forced to find new accommodations.
Dwelling are owned by corporations connected to local Party officials, but the land is leased from the State for 70 years, after which it reverts to the state to resell.
The buying and selling of unfinished housing is needed for young men to get a bride - no home, no marriage as the female’s parent will reject the male. These dwellings are expensive - going for an average, before the pandemic, of $US1.5 million each.
“$446 billion funding shortfall”
That doesn’t sound so bad. we could print that much in a day.
Do you remember the good old days before the ghost town?
We danced and sang, and the music played in a de boomtown
They call those “homes”?
Those look like rat feces infested, high rise death traps to me.
They usually are completely unfinished with no stairs no doors to access them. Concrete buildings are built with paper mache fillers
So Joe and Hunter won’t be getting their checks this month?
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