- cross-posted to:
- sino@hexbear.net
- cross-posted to:
- sino@hexbear.net
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Housing prices in China are lower than they were in 2006? That’s incredible if true, but I’d be very (pleasantly) surprised it would’ve gotten that low so quickly. I guess real estate prices are largely made up beyond price of construction, so it wouldn’t be hard to lower it if that was your actual goal. It’s almost like the west’s real estate bubble is entirely manufactured so the rich can profit more off of everyone else or something.
Housing prices should be decided by size, amenities, Internet speed, distance from the train station, distance from a 7/11, and distance from a nice takeout restaurant where a kind, portly old man with hairy forearms calls you boss. I think Marx said that after the whole coat thing.
They’re using real prices. I don’t know about China but we’ve had so much inflation in the US since the 2000s that I wouldn’t be surprised if our real prices look similar.
Edit: Out of curiosity I looked it up and (admittedly only from the first chart I found) the US real home prices fell so far after the financial crisis that they didn’t recover to 2006 levels until around 2022. Our chart looks very much like this one except flipped upside down.
This was entirely intentional though?
yes, but think of those poor poor investors
meanwhile, house prices in the bastion of freedom called Taiwan:
while salaries 
If someone lowers prices in my city to 2006 levels I’ll do whatever they want.
Guy who doesn’t produce anything: “Actually, things that are rare are a good thing to base your economy on”
I can only say this is definitely good if the Government writes down debt burden of existing and new mortgage holders in line with market rates.
oh fuck the line isn’t going up
: “Ha! Look at the silly brown people! They built homes for actually living in! What about the property valyooz?!?”
muh gains!
me too, real-estate market, me too.
And in that time it apparently only inflated from 88 to 113. The drop is not the most shocking part, but how flat this line is compared to US Market
“the housing market crashes” lmao you mean houses finally become affordable again?
Double comment. Not sure how to delete
