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this post was submitted on 08 Nov 2024
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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.
90% of families in China own their home, with 80% of these homes are owned outright. https://www.forbes.com/sites/wadeshepard/2016/03/30/how-people-in-china-afford-their-outrageously-expensive-homes
no, 0% of chinese own their home, it's a lease from the state