😂 laowhy86: China Just Built 1 Billion Empty Houses for Nobody - This is Insanely Bad [I was repeatedly called a liar when I reported it 6yrs ago]

[epebble]

Maybe things were built at a cost less than that

Other way around. For example:

This Is What A $300,000 House Looks Like In China

It is an understatement to say that apartments are expensive in China. Look at how a $300,000 apartment in Xiamen compares with residential properties of the same price around the world.

www.vagabondjourney.com

I would hazard, $100,000 might get you a studio apartment in a less than nice place.

 

[nahtanbob]

Other way around. For example:

This Is What A $300,000 House Looks Like In China

It is an understatement to say that apartments are expensive in China. Look at how a $300,000 apartment in Xiamen compares with residential properties of the same price around the world.

www.vagabondjourney.com

I would hazard, $100,000 might get you a studio apartment in a less than nice place.

Chinese love real estate. They own tens of thousands of vacant properties in California

 

[gambit]

Chinese love real estate. They own tens of thousands of vacant properties in California

Chinese owned US properties WILL return to US owners as China's economy declines and Chinese needs as much money as they can get to survive.

 

[nahtanbob]

Chinese owned US properties WILL return to US owners as China's economy declines and Chinese needs as much money as they can get to survive.

I do not know what you mean. They would have sell it and take the money back to China. I think more likely scenario is to leave China and come to USA

 

[Han Patriot]

All I know is the Chinese haters said all the empty ghost stories by him and others were made up sh*t.

Now 6 years later the Chinese government finally admits he was correct. But we all know the Chinese media is all lies because PDF members know better.

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Expect a lot of off-topic rants by the Chinese PDF members to smokescreen this. Like talking about Uighurs or something.

All countries have some unsold properties. And in China most properties are sold off by private sector. But i do agree in Clamping down property prices. What you are doing is selective reporting. So show me a source from the Chinese government that says there is 1bil empty houses. Seriously, i dare you. Remember Chinese government source, unless laowhy can count a billion houses, i guess his pulled the stats out of his arse or somebody else's arse.

Chinese owned US properties WILL return to US owners as China's economy declines and Chinese needs as much money as they can get to survive.

Wow, US is now communist? Lololol

 

[gambit]

I do not know what you mean. They would have sell it and take the money back to China.

That...

I think more likely scenario is to leave China and come to USA

The wealthy exodus is going...

China to see the world's biggest millionaire exodus this year, new study shows

According to a report by investment migration consultancy Henley & Partners, China is expected to lose the largest number of dollar millionaires this year due to migration.

www.cnbc.com

Data from the firm showed that a net 10,800 high-net-worth individuals migrated out of China in 2022, and another net 13,500 are expected to leave this year.​

​

Banks and real estate companies do talk to each other. Sometimes under business necessities, often times just plain old gossip. But words gotten out that the wealthy do not like what they are seeing China and are taking steps to protect their assets before the CPC got their shid together and shut down immigration. Many Chinese owned real estates will return to American ownership.

 

[EyelessInGaza]

We will come to know soon enough - assuming that the debt financing played a role in for companies and individual buyers in the building and purchase of these homes, that level debt floating around isn’t sustainable. Unless government bails out in a massive way.

But it’s not exactly clear what’s going on so I wouldn’t call it either way for now.

 

[nahtanbob]

We will come to know soon enough - assuming that the debt financing played a role in for companies and individual buyers in the building and purchase of these homes, that level debt floating around isn’t sustainable. Unless government bails out in a massive way.

But it’s not exactly clear what’s going on so I wouldn’t call it either way for now.

you will be amazed at the amount of debt individual Chinese take to acquire real estate

 

[beijingwalker]

Most Chinese already own at least one house, China's house ownership rate is one of the highest in the world. most Chinese buy houses as an investment, to certain degree, a speculation. sooner or later this speculation activity should be fixed.

House owership rate

China

89.68

2018[8]

United States

65.9

2022[27]

 

[大汉奸柳传志]

houses in China are more like circulating assets other than shelters

 

[huanghong]

That...


The wealthy exodus is going...

China to see the world's biggest millionaire exodus this year, new study shows

According to a report by investment migration consultancy Henley & Partners, China is expected to lose the largest number of dollar millionaires this year due to migration.

www.cnbc.com

Data from the firm showed that a net 10,800 high-net-worth individuals migrated out of China in 2022, and another net 13,500 are expected to leave this year.​

​

Banks and real estate companies do talk to each other. Sometimes under business necessities, often times just plain old gossip. But words gotten out that the wealthy do not like what they are seeing China and are taking steps to protect their assets before the CPC got their shid together and shut down immigration. Many Chinese owned real estates will return to American ownership.

WOW, did outflows from high net worth individuals drop that much?
The number of outflows in 2018 was 15,000, but only 10,800 in 2022? ?
At the same time, the number of high-net-worth individuals was 1.97 million in 2018 and 3.16 million in 2022.

This means that the proportion of high-net-worth individuals who choose to immigrate has dropped from 7 per 1,000 in 2018 to 3 per 1,000 in 2022, a drop of more than 50%, which is surprising data.

According to the latest 2018 global immigration flow data map released by Visual Capitalist, it intuitively shows how high-net-worth individuals with assets greater than one million US dollars changed nationalities in the past year. China had the largest number of high-net-worth individuals with a net outflow of 15,000. , on the contrary, Australia absorbed the largest net inflow of 12,000.

The latest "China Private Wealth Report" released by China Merchants Bank and Bain shows that:
The number of high-net-worth individuals in China was 1.97 million in 2018, an increase of 400,000 compared with 2016; the average annual compound growth rate dropped from 23% from 2014 to 2016 to 12% from 2016 to 2018.

China Merchants Bank and Bain & Company jointly released the "2023 China Private Wealth Report" (hereinafter referred to as the report) with the theme of "Advancing and Improving". The number of high-net-worth individuals in China will reach 3.16 million in 2022, an increase of approximately 540,000 from 2020, with an average annual compound growth rate of 10% from 2020 to 2022. In terms of wealth scale, China's high-net-worth individuals will hold a total of 101 trillion yuan in investable assets in 2022, with an average compound annual growth rate of 9% from 2020 to 2022.

 

[Haldorss]

2nd piece of content posted to pdf that is US shill content. Can we report these?

 

[Han Patriot]

WOW, did outflows from high net worth individuals drop that much?
The number of outflows in 2018 was 15,000, but only 10,800 in 2022? ?
At the same time, the number of high-net-worth individuals was 1.97 million in 2018 and 3.16 million in 2022.

This means that the proportion of high-net-worth individuals who choose to immigrate has dropped from 7 per 1,000 in 2018 to 3 per 1,000 in 2022, a drop of more than 50%, which is surprising data.

According to the latest 2018 global immigration flow data map released by Visual Capitalist, it intuitively shows how high-net-worth individuals with assets greater than one million US dollars changed nationalities in the past year. China had the largest number of high-net-worth individuals with a net outflow of 15,000. , on the contrary, Australia absorbed the largest net inflow of 12,000.

The latest "China Private Wealth Report" released by China Merchants Bank and Bain shows that:
The number of high-net-worth individuals in China was 1.97 million in 2018, an increase of 400,000 compared with 2016; the average annual compound growth rate dropped from 23% from 2014 to 2016 to 12% from 2016 to 2018.

China Merchants Bank and Bain & Company jointly released the "2023 China Private Wealth Report" (hereinafter referred to as the report) with the theme of "Advancing and Improving". The number of high-net-worth individuals in China will reach 3.16 million in 2022, an increase of approximately 540,000 from 2020, with an average annual compound growth rate of 10% from 2020 to 2022. In terms of wealth scale, China's high-net-worth individuals will hold a total of 101 trillion yuan in investable assets in 2022, with an average compound annual growth rate of 9% from 2020 to 2022.

No worries, they can't take all their money out unless they pay taxes.

 

[hirobo2]

Holding foreign property is dumb. All the West gotta do is slap on an annual vacant home tax and that pretty much nullifies any capital gain the home owner makes!

 

[Reashot Xigwin]

Unlike the 2008 lehman brothers crash, This crash affected everybody in china. No one is spared.

China’s bursting housing bubble is doing more damage than official data suggest

China's method of measuring home prices may understate declines, as private data suggests drops of at least 15% in major cities.

fortune.com