Why 50 Million Chinese Homes are Empty

China’s housing bubble has left 50 million homes empty and put its government between a rock and a hard place.

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

[jonesbc]

I have traveled to Shanghai many times and know some locals. This video is very true. One man owns five condos. They are all empty and he never plans to rent them. I ask why? He says if he rents them then the value will drop. He says the price of the condos go up more than 10% per year and are great investments. They have no property tax. This whole thing is a house of cards.

[LetsGoGetThem]

Out of all the American cities to copy, they copied a city in Wyoming.

[RyanLasek]

This is why I love Polymatter, I had an understanding of what's happening now, two years ago

[michaelsilver]

Chinese investors snatching up urban property in the US is very real, especially since they generally buy in cash, making them more attractive buyers than domestic ones. All my friends who have tried buying a condo here in DC have found themselves often getting pushed out by Chinese buyers.

[samuels]

It's creepy when I realize the resident area is almost empty, the buildings look fancy, but not a single human present. It was 2013 in middle of a trip.

[OpEditorial]

The sentence "china doesnt have enough people" is not one you hear everyday 🤔

[thCaptainMorley]

Born and raised in Vancouver. It’s a huge problem here. Housing prices in greater Vancouver are insanely high and many are not justifiably used as homes but rather investments. An average condo in Vancouver is over $1, 000, 000 and actual houses are often worth well above 2 or 3 million dollars. Entirely caused by artificial investment demands rather than actual local necessity.

[SaintMartins]

Now they're starting to buy up houses/condo's in other cities like Vancouver British Columbia, Canada & Seattle Wash. USA, leaving them empty too & creating a lack of housing for locals to buy/rent, forcing people to move further away from where they work. That's why in British Columbia they created a new law called "Empty Housing Tax" If you buy a home & don't live in it, leaving it empty you have to pay a tax that is 1% of the houses value every year. In 2019 the local government is planning to "triple" that percentage. "For Sale" signs have been going up lately...LOL !

[zhuoranfu]

as a Chinese born Canadian, I have to say this is THE most unbiased and concise informative video about China i have watched so far. It tells every bit of truths and scheme about the real estate economy in China. right to the bulls eye.

[KarryGao]

As Chinese, I wanna to say the main reason why Chinese people do a lot savings is we don't have developed social welfare systems like EU or US, we need money to prevent us from risks, like diseases or any kind of accidents, that is it.

[robertochina]

As a person living in China and as a person that has had students also discuss this issue, I'd say you've done a great job explaining the circumstances of the housing market.

[AdamSahr-cjkf]

They are empty because they are not real homes for those who badly need them, they are just speculation items, and speculative bubbles always end badly...

[bottleofwater]

Like me in Minecraft I build a lot of houses and I have no friends 😓😭

[jenniferlambert]

I used to live in Beijing, China. While living there, I understood that Chinese cannot “own” real estate property - they can only lease it for 70 years. Perhaps there are different “ownership” arrangements?

[Furtuim]

Coming back to this with the events of the past few weeks has been...eye opening

[KingOfNaraka]

Chinese government: If you build it they will come.
Chinese people: Nope.

[hjkhjk]

Appearance is everything to these people.

[darrishawks]

“All those loans won’t magically disappear”
Idk, China magically disappears loans somewhat often tbh

[thejmrexperience]

I live in Vancouver. Rich Chinese take their money out of the "mainland" as hard as they can. In my University, you see all sorts of Ferraris, Lambos, McLarens. From what I hear, all paid in cash. Any guess who drives them? Chinese students with an N sticker in the back. (N for novice driver in the process of getting a full license) I'm not hating, just facts here. An old average property that used to be perhaps 1m 10 years ago is now easily 6m, depending on the area can be 10+. Chinese come and buy it cash... I don't think anyone here wants to trace the money, they just welcome the investment. Nobody questions if its money laundering. The foreigner tax made the market slow down, yes, but it's on the rise again.

[samdoesvids]

“50 million empty homes”
England: *sweats nervously*