World News

32290 readers

537 users here now

News from around the world!

Rules:

Please only post links to actual news sources, no tabloid sites, etc
No NSFW content
No hate speech, bigotry, propaganda, etc

founded 5 years ago

MODERATORS

Rumblestiltskin@lemmy.ml

zephyreks@lemmy.ml

OurToothbrush@lemmy.ml

jackmarxist@lemmy.ml

China's housing minister says real estate developers must go bankrupt if necessary (www.cnbc.com)

submitted 7 months ago by schizoidman@lemmy.ml to c/worldnews@lemmy.ml

15 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] RestrictedAccount@lemmy.world 0 points 7 months ago (1 children)

Y’all are dancing on this, but if they go through with it, this is going to cause a run of panic that will wipe out the savings of hundreds of millions of people.

[–] PolandIsAStateOfMind@lemmy.ml 0 points 7 months ago (1 children)

It would in the west, in China they do a controlled crash, i mean it's already happened, one of their biggest housing companies already crashed and it did not caused anything except rise in home ownership among the people.

[–] realharo@lemm.ee 0 points 7 months ago (1 children)

What about all those unfinished buildings that people got in debt to buy?

[–] RestrictedAccount@lemmy.world 0 points 7 months ago* (last edited 7 months ago) (1 children)

They are not needed. There is no one to live in them.

They have over a billion excess homes. It was the only thing that normal people could invest in so they just kept building.

If you bought one as an investment, nobody is going to buy them from you. They are worthless.

[–] gandalf_der_12te@feddit.de 0 points 7 months ago

They have over a billion excess homes.

Which is good, because it keeps costs of living down, amiright?