• Rolder@reddthat.com
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    8 months ago

    80% owned outright my ass.

    https://www.statista.com/statistics/1214346/china-value-of-real-estate-housing-mortgages/

    Most current state put them at 40 trillion yuan in mortgages (5.5 trillion USD)

    And their home ownership rates aren’t surprising when you consider how they have been pre-selling homes before they are even built. Which is backfiring horribly with those housing companies going under because they can’t finish the homes fast enough.

    • ☆ Yσɠƚԋσʂ ☆@lemmy.mlOP
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      8 months ago

      Most current state put them at 40 trillion yuan in mortgages (5.5 trillion USD)

      If you had a clue regarding the subject you’re opining on, then you’d understand that these figures aren’t mutually exclusive. Vast majority of people in China own their primary homes, that’s where 80% ownership comes from. In additions, people and companies buy up secondary properties, which is where the mortgages come from.

      backfiring horribly with those housing companies going under because they can’t finish the homes fast enough

      Do elaborate how it’s backfiring on anybody but the financial capitalists who invested in these ventures.