Every fucking time...
this post was submitted on 15 Jul 2025
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a prolonged crisis in the property market ... Also on Tuesday, official figures showed a drop in China's new home prices in June, falling at the fastest monthly pace in eight months. The data suggests the country's real estate industry is continuing to struggle despite several rounds of measures to support property prices.
New homes are cheaper? Aw fuck, we're all going to die! Lower house prices are good for buyers and shouldn't be an issue so long as you're not speculating on housing.
Anyone who has purchased a house previously, for living in not just speculation, would be affected. If you took out a loan to buy a home and the value tanks, and you have to move for whatever reason, selling the house might not be enough to pay off the loan. That's bad for the average person.
It says new home prices. The construction companies were over building homes and taking on substantial debt. This over building was driven by Chinese citizens seeking second and third homes as a savings asset.
New home prices dropping pulls down the prices of existing homes ... Why buy an old house if you can get a newer house for cheaper?