this post was submitted on 29 Apr 2026
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traingang
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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.