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China's home-price slump deepens to new 9-year low despite stimulus
(www.reuters.com)
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this post was submitted on 17 Aug 2024
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People in China don't have a good stock market to invest in to "diversify". They also don't have good government programs like social security. The only investments are houses, shops, or your kids. If you chose houses and the market crashes and your kid can't help, you're screwed and will likely end up on the street.
Yeah that's what I was trying to call out. Also seems some people aren't aware that many of these investment properties were never built, so the people lost their money and the asset behind it.