Housing Crisis — China's Reckoning (Part 2)

Audio editing by Eric Schneider
Motion graphics by Vincent de Langen
Everything else by Evan

Thanks to Ma Con for the Vietnamese subtitle translation.

This includes a paid sponsorship which had no part in the writing, editing, or production of the rest of the video.

Video supplied by Getty Images

[rufuspipemos]

This video nailed the current situation 18 months before it began.

[sylvanfranklin]

Alternative title: Why China is actually a real estate company, and what that means for investors.
Next video on Wendover: The insane engineering of a china shaped airplane
Next video on Half as interesting: the logistics of starting your own China

[llchngy]

hell，as a Chinese citizen, i have to say this is the first foreign video i saw that mentioned the role that local governments played in this mad real estate market, how they sell public land and all those empty companies. you really know about China.

[hanxiaozhang]

As a Chinese, I have to say the "China's Reckoning" series are incredible videos, especially Part 1 and Part 2, which are the most critical problems in current China. But it's really hard to solve them in a short time.

[Monkeyboy]

Anyone else already HYPED for the next video

[hermesrodrigues]

This is happening, to a lesser degree, all around the world.

I live in São Paulo, Brazil, and and many appartments here, especially in the historic center are unnocupied, because people buy them only as a investment for especulation, and don't actually move. On the last election, one of our candidates for mayor was really concerned by that, he even stated that São Paulo "Has more peopleless homes than homeless people", which is quite brutal if you think about it.

[johnsmith-mvhq]

The potential collapse of Evergrande, one of China's largest property developers, is happening. What happens to this complex network of economic and social webs then?

[looppp]

As a Chinese person -- yup. My family and all the families I know are obsessed with owning real estate.

[presidenttogekiss]

You know what. As someone who likes Gengis Khan Mausoleons, and doesn´t particularly like people, I´d like to spend some time in that city.

[yaz]

"The best birth control is the housing price." - Chinese Internauts

[dannyl]

Watching Evergrande implode, I thought I'd revisit this video

[Anonymous-vhtc]

As someone who grew up in china, I’m extreme impressed by the level of details and accuracy of the information you presented. It in fact helped me put the puzzle together to have a better understanding of china. Mad respect.

[hamslicemcdooogle]

Demographic collapse was the kidneys, housing crisis is the liver.

Part 3 is the heart, which means juicier than part 1 and 2! Also, part 3 yay!

[lynx]

"China's vacancy rates are through the roof"
9:30
Spain: "Watch and learn 😎"

[Wallacenawa]

Watching this again in September as the 'bubble' is You do great work PolyMatter, keep it up

[atari]

As a foreigner married to a Chinese woman and living in China for years, I can confirm the obsession with housing. Literally 99% of women and their families will not have a marriage until the have their own house. It's madness but it has its reasons.

I see lots of foreigners get into serious relationships with girls and then when this comes up during marriage conversations, everything falls apart because they can't buy a house. Luckily for me it worked because my wife's family bought a second house for when she would get married.

Basically, the obsession comes from the fact that landlords constantly push out their renters with little to no notice in order to sell their property. Like you can be living in your apartment under a year lease and suddenly the landlord tells you that you have 10 days to leave and the ONLY way out of this is to actual own the place you live in. So Chinese families look for a stable place to live.

[petergillett]

You just can't beat the quality of Polymatter's video on Youtube.
I love this channel.

[olivius]

And on today's episode of "I cannot beleive I am watching this for free".

EDIT: I understand I am paying with my personal information and ads.

[malvoliosf]

March 2021 (14:42): “A sudden and rapid fall in prices is the worst-case scenario. More than a few experts argue this is far from inevitable, and there are credible reasons to think China is not about to experience another 2008.”
August 2022: “Oh, crap.”

[cashmininger]

My wifes family (Chinese) just bought their 3rd house… just because. My mother in law wanted me to pay too, told her im not paying because im not gonna live there. Needless to say she isnt so happy with me right now 😂. Im happy with my own house