All China’s Efforts to Stabilize Housing Prices Have Failed! No Buyers Even for Homes at $2,000

Many homeowners in China who bought houses when prices were high now regret it. They were convinced by the Chinese government’s hype about the housing market, and many have lost hundreds of thousands, even millions of yuan.
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[conqc]

There are more houses than people in China. The prices are artificially high. Why does China not understand supply and demand?

[snaz]

LOL, and even with that you don't own it, just a leasehold, sheesh! 🤣

Not that it will last 70 years anyway...

[Luminousplayer]

Any chinese buying homes in the last 3 years took insane doses of copium, this crisis is insanely augmented because these people dont look at this housing as a home but as an asset to resell later

[borisnegrarosa]

Coming 10 years will be tough for China. The honeymoon phase is over.

[woodsmachinery]

my Chinese wife and I bought a house in Foshan (Guandong)4 bedrooms in 2017 for 1, 6 million yuan, we sold it for 900 hundred thousand in 2020 after putting it on the market for almost 2 years and no one wanted to buy it, as foreign I know the houses market in china is just scam

[kateryan]

Awesome news. Let's all further help the Chinese out by reducing any Made-in-China purchases whenever humanly possible.

[Spinozin]

The Chinese needed to understand the difference between a house and an apartment, as well as economic cycles, greed, and governments

[nishantaadi]

Don't buy property for investment but buy for living because economy Don't work with stupidity.

[JackHawkinswrites]

Ten cents on the dollar …. Lots of supply without much demand

[twstu]

Until ur house is paid off- it’s a liability not an asset.

[Dazzman]

Way overpriced in the first place 15k US per SQM in Shanghai, who are they kidding..

[TheBigExclusive]

So basically investors endlessly chased money, and now upset there is no one left to scam and sell to anymore?
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Am I understanding this situation correctly?

[harrymills]

Why is this a huge hardship, if you made sure you could afford your house payments before buying? If my house dropped in value, the only thing that would affect me is my property taxes would go down.

Why would you buy a house you want to move out of in 2 or 3 years? That's a bad decision, regardless of market fluctuations.

I can see where it would be a hardship if you suddenly had a life change and had to move. But if you bought the house to live in, long term, you might have some buyer's remorse, due to paying too much, but you shouldn't otherwise be affected, and you should have a mortgage that you can afford, else why make such a commitment?

[kindGSL]

It is very strange to me to see the biggest economic problem in China is too many houses and in the US the biggest economic problem is homeless people. Somehow neither of these systems is actually working.

[pcwwfhd]

I am soooo glad I'm poor, so poor that even thinking of owning a home is a pipe dream. I rent a reasonable Apartment, nothing to get excited about. But it isn't an anchor tied to my life.

[justinwolf]

Real estate in China is not a temporary problem. It’s a systematic problem. That’s why it boomed so much but that’s why now it’s over with and will never recover. You can’t con people in to buying any more because of what the ccp has done to homeowners. People have lost all their money on this scam.

[andrewpearson]

You feel for these people, but did they never think about market economics? You think real estate markets only go up? When everyone and his auntie is jumping headlong into real estate, that means there are going to be no more buyers to sell your condo to. China has the most expensive real estate market in the world? Insanity. The market you bought into was always destined to fail because your leaders don't know what they are doing. And remember these people aren't even buying property that they own outright. This is all for property they are truly only leasing for 70 years. Just outright insanity. Now they're all paying the price because the bubble has burst. Blame it on your government for having such poor policies.s

[youcantata]

The house price crash is fatal blow to the new emerging middle-class family of China. They have no other investment or savings other than the investment on real estate. House is all of their property of great value, maybe 80% of their family fortune. So losing house is losing life-long earnings. Then, the middle class of China will sink into poverty again. Such shrinking middle-class will ruin hope of economic development of China.

[jgeehdeewestsdegethemuLa]

The fact state affiliated entities blend in with regular private entities makes it so that CCP themselves cannot truly distinguish the true scope of the economy. In America real estate is priced off supply and demand while in China they give city tiers and instruct what is good and what is not even if income of business cannot keep up in certain previously "good locations " rent will still increase because many companies are affiliated with state so poor business really means nothing . In China many businesses don't operate to produce profit or to be more efficient most of them are to scam, rug pull, copy paste other people's IP. There's no true free market so when these people talk about " prime location" I wish they would ask themselves who is defining this as prime the market or ccp

[shubus]

Everybody I know is checking carefully and buying "Not Made in China". You too can help by doing this. It's getting easier all the time to buy non-China manufactured goods.