this post was submitted on 03 Aug 2024

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China Rejects $1 Trillion Housing Rescue Plan Pitched by IMF (www.bloomberg.com)

submitted 3 months ago by filoria@lemmy.ml to c/worldnews@lemmy.ml

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[–] andyburke@fedia.io 1 points 3 months ago (1 children)

Sorry, so the people who saved up to buy a home that couldn't be built until later due to demand are now investors?

I don't think they owned any stock in a company.

They had contracts for homes, right?

[–] sunzu@kbin.run 0 points 3 months ago (1 children)

Real estate is an asset class just like any other asset that is traded.

With respect to them giving money unfront for building, they got scammed. It is a criminal matter. But why should other people socialize their bad choices.

Bail out mechinsm done in the west is the most retarded way to deal with these issues and it creates incentives for owner class to scam taxpayers.

[–] andyburke@fedia.io 1 points 3 months ago

So you are saying anyone who has a mortgage is the "investor class."

Got it. Think we are done here.