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Really wonder if any of this can work.
Property investors already over committed and last year many protested because their proepprty were not built as they pay mortgages.
One of the ways the US propeprty market could come.back after a bust like the one in 2009 is the property loan is non recourse meaning if you cant pay debts bank take your proepprty and that settles the debt clean. They cannot go after you anymore
This allows investors to move on later the propeprty market can come back.
https://www.scmp.com/business/china-busi...ue-package
“Regulators will be more serious about rescuing the sector,” said Raymond Cheng, managing director of CGS-CIMB Securities. Lowering down payments from 30 per cent to 20 per cent, reducing mortgage rates and cancelling home purchase restrictions are among potential steps that could revive demand, he added.
Momentum in sales slowed after April, as homebuyers became wary of
China’s faltering economic recovery, worsening unemployment rate and declining household incomes. Private developers have defaulted on their bonds recently due to weaker-than-expected sales and difficulties in accessing financing. Land sales in small cities also remain weak.
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
(This post was last modified: 10-06-2023, 08:25 AM by
sgbuffett.)
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Everything is failing and collapsing in third world china.
Now the ccp cultists are very worried and scrambling to beg for foreign investments and aids.
Ah tiongs are already very poor and suffering badly. They don't even have house to live in.
I am the master of Omnipresent88 who is my loyal doggy following me everywhere like a pundek lololololol!
Triggered dog will come and bump thread for me lololololol!
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Yr Cpf oa 20k can buy what? 1/6 of a coe paper?
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gaypanda so proud of of his cpf oa…
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(10-06-2023, 08:22 AM)sgbuffett Wrote: Really wonder if any of this can work.
Property investors already over committed and last year many protested because their proepprty were not built as they pay mortgages.
One of the ways the US propeprty market could come.back after a bust like the one in 2009 is the property loan is non recourse meaning if you cant pay debts bank take your proepprty and that settles the debt clean. They cannot go after you anymore
This allows investors to move on later the propeprty market can come back.
Slightly different in China. The property crisis involves many parties, the banks, the buyers, the developers, the local governments and uncompleted housings whereas the US one involves mainly the banks and the buyers. It is more complicated and complex for the case in China.
"the devil is attacking you and not your argument because he is weak”
(This post was last modified: 09-11-2023, 12:53 PM by
revealer.)
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(09-11-2023, 12:07 PM)pervertosan Wrote: gaypanda so proud of of his cpf oa…
Lao gay got more than 20k or not? Yr 月工 business very lucrative is it?
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Look like China has won the game.
US, pls try harder!
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(09-11-2023, 12:50 PM)revealer Wrote: Slightly different in China. The property crisis involves many parties, the banks, the buyers, the developers, the local governments and uncompleted housings whereas the US one involves mainly the banks and the buyers. It is more complicated and complex for the case in China.
I'm inclined to agree with you. The housing problem would have gotten worse if the govt didn't do anything to nip it in the bud. I heard what had been going on on the grapevine. Astronomically large amount of financing for housing developments were approved by powerful financiers and big fat bankers who got a cut of the financing. And the already-wealthy real estate developers were flushed with borrowed money.
The inevitable happened - a great masses of buyers were aghast when they were left with uncompleted properties and mortgages to pay off. The last I heard, the head honchos of several leading banks and housing development corporations were brought to face criminal charges of grave financial wrongdoings. I have every confidence the Chinese regulators are able to rectify the situation and deal with the housing crisis.
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China got a huge reserve, dont know why they never put that to good use to rescue their property market..
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(10-11-2023, 01:42 AM)victortan Wrote: China got a huge reserve, dont know why they never put that to good use to rescue their property market..
Ccp reserves is 3.12 trillions usd. Their annual gdp is 17 trillions usd. Almost 25% of their gdp is in property. Which is bigger? Reserves or their faundering property market? Do your maths. How to safe ?
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