this post was submitted on 15 May 2024
74 points (100.0% liked)
askchapo
22709 readers
306 users here now
Ask Hexbear is the place to ask and answer ~~thought-provoking~~ questions.
Rules:
-
Posts must ask a question.
-
If the question asked is serious, answer seriously.
-
Questions where you want to learn more about socialism are allowed, but questions in bad faith are not.
-
Try !feedback@hexbear.net if you're having questions about regarding moderation, site policy, the site itself, development, volunteering or the mod team.
founded 4 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
The fallout was that the Chinese government bought the bottom and all the wall street dipshits than invested in the stock lost their money. The Chinese government has always posited that speculating on the price of housing is a social ill and they've always pulled stunts like this to curb companies that try to start this hype cycle. This time western investors lost money so that's why we heard so much about it.
tl;dr it's in state custody now
Perfect. That's what I figured.
Buy the dip
lmao good, get fucked ghouls
Can’t wait to see in 2030 when China has achieved a 100% homeownership rate for adults with all the affordable housing.
You read the news on your phone in your shitty apartment you share with total strangers (if you’re lucky) in bumfuck nowhere addressing this. And what greets you is a picture of a pouty Mr. Monopoly with a tear rolling down his cheek as the headline reads. “Why does China hate real estate? Authoritarian CCP just killed the housing market now no one can build wealth off their investment again!”