this post was submitted on 15 May 2024
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So what was the fallout of all the "housing collapse" news from china? (hexbear.net)
submitted 5 months ago by RedWizard@hexbear.net to c/askchapo@hexbear.net
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Did people loose their homes? Did people end up jobless?

I know there was a company central to the story, and that China was basically going to let it fail, but what was the fallout?

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[–] DragonBallZinn@hexbear.net 4 points 5 months ago

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!”