Skip to comments.Public anger in China spreading as property prices drop [tr]
Posted on 10/12/2018 12:39:22 PM PDT by C19fan
Chinese property developers can usually count on September and October to be their gold and silver months for sales, but this year turned out to be different.
Not only were their sales figures grim for September, but the seven-day national holiday last week also brought at least two fangnao incidents when homeowners protest against price cuts offered by developers to new buyers.
These protests are often directed at sales offices, with varying levels of intensity from throwing rocks to holding banners and putting up funeral wreaths. As home ownership has remained the most important channel of investment for urban households in China in the past decade, price cuts have become increasingly unacceptable and a cause for social unrest.
(Excerpt) Read more at scmp.com ...
They will be educated soon.... I'm certain their real estate promoters have fed them a diet of "Buy Real Estate..., it ALWAYS GOES UP"..., just like here in the USA!
Its still a top-down economy. The Government is involved, at some level, in every industry in China.
The government has a major spurt of liquidity hnderway, but buyers are hard to lure in when price cuts are anticipated. The government will soon have to buy up bad loans and distressed properties to bolster price levels.
[Its still a top-down economy. The Government is involved, at some level, in every industry in China.]
China has half the population density of the UK. Its city skylines should look like Britain’s, with mostly low-rise housing developments. But in actual fact, China’s city skylines look like one Hong Kong after another, with vast sparsely-populated areas in between. Building vertically is very expensive, with maintenance costs to match. What the government is saving on infrastructure costs, every high rise-dwelling Chinese family has to shell out in maintenance costs on a recurring basis.
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