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submitted 1 month ago by yogthos@lemmy.ml to c/socialism@lemmy.ml
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[-] Burghler@sh.itjust.works 2 points 1 month ago

Isn't the housing situation significantly worse in China? You put entire down payments and then pay the mortgage for the house to still yet be built. And last year so many defaults happened that no houses were being built and no one was being returned their money when they wanted out.

The grass is not greener on their side. It's still fucked, just a different fucked.

[-] dontgooglefinderscult 23 points 1 month ago

Those are the speculative houses xi is arguing against here. China doesn't have involuntary homeless, that's mainly why 'ghost' cities were built. Now the private housing market is fucked right now, and there's a good chance there will never be privately built homes again in China. But that has nothing to do with the housing supply, and does not affect homeownership or housing rates

[-] yogthos@lemmy.ml 22 points 1 month ago
[-] TriflingToad@sh.itjust.works -2 points 1 month ago

they're made to last 50 years. Expensive houses are falling apart

this post was submitted on 08 Nov 2024
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