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this post was submitted on 29 Jan 2024
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Did... Did the bubble finally burst? I can has home now?
The bubble already burst back in 2021 iirc when the company defaulted on its debt and the CPC refused to bail them out (based).
And people still talk about the “China real estate collapse” lmao
Just because the CCP are experts at sweeping things under the rug doesn't mean it's not happening.
You realize it's basically impossible to disprove something right? Burden of proof etc etc
Evergrande's collapse has been very well documented and is well-known, nothing's being "swept under the rug" here. It's in line with Xi Jinping's "Housing Should Be for Living In, Not for Speculation" policies too
Also, obligatory China home ownership graph; reached 90% in 2018.
Idk about you but I think the people who've done this prolly know what they’re doing. Ig we'll see how this affects China's housing in the coming years.
If Chinese companies work anything like American companies the fact that they have been floating all this time without being checked by creditors is amazing in of itself and just goes to show that they are being artificially propped up either by government, amicable law or both.
Corporations and economies are all man-made in the first place; it's all "artificial".
It should get more interesting with the forced liquidation now though