Personal Perspective of the Property Market in China and the UK

Here's how it benefits people like me, ordinary people who aren't big investors, who aren't rich but are pretty secure - in other words, about 90% of all Chinese people

[stephenc]

05:36 _"I am really not sure why it is that so many people have a view that China's property market is in such dire straits..."_ Because it fills our hearts with joy and gladness to know that people whom we dislike are in such _dire straits._ Wishing ill on others is a sure sign of a weak mind.

[ron]

Very interesting. This is similar to the complex where my wife and I live in a small coastal city in Guangxi, approx. 600, 000 people. Our complex has six buildings each with an average of 30 floors. I understand that all apartments are sold, but most are empty with some being rented out as holiday apartments some of the time. My wife also has an apartment in Dongguan which is empty. My home town in Scotland, Ayr, is very similar to South Shields with many buildings closed on the High Street as per my last visit. Only charity shops and pharmacies appeared to be doing well, which is a strong contrast to the high streets here.

[donatwu]

You are absolutely right, Jerry. It is not uncommon that families with enough savings & happy growing prospects would invest in second family homes for their vacation/retirement uses & even additionally in rental houses for future profits especially when both the purchase & owning costs are affordably low. Since China has a middle income/asset population of 400m & counting, the government only needs to maintain a stable & growing economy with mild inflation to keep its people happy to hold onto their assets. You also cleared my mind that the 2 big housing developers dug their own graves simply because they kept on taking undue investment risks despite the Central Government's warning in 2019 that all banks & financial institutions in China would not finance their debts any longer. It is quite a relief that the majority of the Chinese population including the middle class have not been affected because of the Central Government's prudent measure taken. With healthy savings within the people, the property market will grow & slowly come back promising with time, I am sure.

[i]

Hi Jerry, thanks for another good take on China. Imo there are only two types of people who believe that China’s property market is in dire straits and collapse is imminent: 1) Those who does not know anyone or have never been to China before but believe in everything the western msm propaganda; or 2) Those who are prejudiced against China and Chinese people and hate to see the Chinese are doing much better then them. Sadly, those in the later category are incapable to learn from the truth even if it is presented in front of them.

[adamiskandar]

We certainly don't mind some rich investors squirming from time to time.

[private]

Jerry, the whole Western economy is about rental and interest GDP. that is why they think it is dire strait.

[Black_Sun_Dark_Star]

Oh wow! Body corporate fees is only $200-$1000! That's almost impossible in Singapore private properties.
Chinese, as an ethnicity, believes in investing in things that generally appreciate in value over time. Property is one such viable investment.

[twsteele]

I live in West Yorkshire and, if anything, things have gotten worse since 2019. In most neighbourhoods around me there are at least two boarded up shops for every open one.

[anthonymathews]

I was born a bit further down in Scarborough, Yorkshire's answer to Blackpool. Presently in Ashford, Kent which is run down, even though the council picks up £millions in Council Tax, no doubt to service their salaries and pensions. Yes, what is it about all these finger nail shops? Good video.

[whuf]

This is something a person from the west will never know nor understand . Thanks Jerry for the explanation .

[HappyPandaBear]

Fascinating! Thank you, Jerry.👍🙏🇨🇳🙂🐲🐼☯️☮️🌏‼️

[reallymakesyouthink]

As someone from the NE of England I can confirm the state of things here. A lot of areas, the house prices are less than before the crash of 2008.

[nostradamus]

You should see all those empty apartments in Sydney and Melbourne.

[Leoq-zkwt]

when I was a kid, we Chinese didn't own any houses, at least in the city, because housing is provided free to anyone that have a job, and everyone must have a job, although the pay was shitty, then again everything was cheap, people are still working hard, and live comfortable, but not rich, no luxuries, no fancy clothing. I think it was somewhere in the 1990s that things start to change, people have savings, and were allowed to purchse their home at a very low price. Then the housing market started to boom, and the rest of the story is known today.

[guyzer]

Jerry thanks for covering this topic which keeps popping up in western media!!

[jayjaywoodland]

i re-subscribed just now... i've never clicked unsubscribe. must be youtube's unconsent interference.

[nsteik]

Well said jerry. Ask the locals to get first hand news

[foodparadise]

My parent bought a condo in China back in 98 and was unoccupied many years until 2018 for their retirement.
I am Guangzhou-nese American and thinking retirement in China later too, thanks for the update Jerry.

[williamwilliam]

Not only China Chinese, but Chinese all over the world like to and believe in investing in the property market for the simple reason that they can get additional income from rentals and making profits from sale of their property(ies) if the price is right. Furthermore, properties are good collateral for bank loan.

[ChicagoTurtle]

I was unsubscribed again. I think this is the 4th time I’ve subscribed now. I resubscribed just 1 or 2 weeks ago. It’s not like this for the other channels I’ve checked.