Mortgage sales down 40% in China

2008 on steroids soon lads
Chinks will try to pretend this is a nothing burger kek.

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This is the numbers they are willing to publish. The reality is likely much worse

It’s over…

This definitely isn't a nothingburger, but it sort of doesn't matter. The average chink will just lose their savings and then cope & seethe while they slink back into quasi-destitution. It won't collapse the country, it'll just make life shitty for the normies, the same way it did here.

Guys China would be willing to kill half its population. You're not going to see a Chinese collapse. As bad as the west is China is playing a completely different game

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It's happening here too.
I might finally be able to buy a house.

>July 24
Break speed news reporting Any Forums Keep up the good work.

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what happens if the chinese dont buy their retarded appartments anymore?
everything gets cheaper because the chinese dont use so much steel and concrete anymore, right?

You can believe that LOL but they are unironically less corrupt than we are. Blackrock is getting hit hard, CPC will just have state-owned enterprises take over and move on and transition. This is the point of dual circulation and belt and road initiative.

>He thinks they were constructing those shitboxes out of steel and concrete

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God chinkies are retarded. Why would you buy real estate that hasn't been built yet?

Have anons here actually been paying attention to whats going on in China lately? Its fucking madness
>The Bank Running
>People expected to continue morgages for buildings that aren't being completed
>The fucking bullshit, jesus fucking christ chinks!
>Youth saying "Fuck it all" with their Lay flat movement (basicly people intentionally going NEET as fuck because its so fucking hopeless. Even successful people are fucked)
I almost feel bad. I don't, but I almost do. Jesus Xi, take advantage of that anger for fuck sakes.

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A massive chunk of China's population is hugely invested in the real estate market. If prices fall, hundreds of millions of them will be fucked financially. The slight drop in the cost of raw construction materials will hardly be relevant in this context. Steel and concrete producers will cut production if the demand falls.

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Keep dreaming rentoid

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They have few other options for investment. Most of them are unable to move money out of China, and their stock market is troublesome to say the least. So if you're a Chinese person looking to invest you can either:
>a) stick your money in the bank
>b) buy a 2nd home

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what exactly is the logic behind everyone in china owning 3 homes?

Not my problem.

yep, by next year probably starting in January I expect a 15-25% housing reduction across much of THE US with some areas like Florida and Colorado experiencing probably about 40%
gonna be some crazy shit going on during this bust lads
anyone who hasn't sold should do so ASAP

It's their only choice, where else can Chinese people invest their money?
see:

>They are less corrupt than we are
AHAHAHAHAHAHHAHAHAHAHAHA
FUCKING CHINK

Oh great, prices will be where they were two years ago.

>CPC will just have state-owned enterprises take over and move on and transition
so you don't understand economics then?

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No one invests in stocks in China because the CCP deletes companies at random

but if everyone owns 3 homes who are they gonna rent them out to?

They don’t rent them out. Literally pointless unused capital goods deteriorating, if they exist at all. They buy it because they have no other place to “”invest.””

China doesn't really do rent. When you rent a building in China it quickly loses it's value. They buy it to sell to someone else.

id rather take my chances in the worst stock market of all times than enter such a death trap tb h

and still they dont have negative gdp growth. america doesnt have housing down 40 % and does have negative gdp growth

Well not "everybody" owns 3, there are still hundred of millions of poor people in China, just as there are hundreds of millions of multi-home owners. Additionally, rent-seeking is not the primary goal here (though it can be a nice bonus), these homes are primarily *investments*. You buy a place in China in the hopes that the prices will continue to rise and you can sell it later on for more money. It's speculation.

not my problem