Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "Resale Home Pricing Drop in China: People's 65% or Official 0.4%, Which Is True?" video.

  1. 😔 The real estate market in China is experiencing a significant decline, causing financial difficulties for homeowners. 00:36 A young man is unable to sell his condo suite at a price that covers his remaining loan balance and down payment. 00:36 Housing prices in second and third tier cities, like Shanghai and Beijing, have dropped by up to 50-65%. 01:32 A friend of the videographer bought a condo unit in Beijing for 2.1 million yuan, but can only sell it for 800,000 yuan, resulting in additional debt. 02:57 The videographer also experienced a significant loss in property value for his property in the outskirts of Beijing. 03:37 The real estate market in Beijing is entering a downward trend, with a high number of pre-owned properties listed for sale. 04:04 Homeowners in China Struggle to Sell Houses as Resale Market Plummets by 65%, Prompting Government Intervention 🏢 The Chinese real estate market is experiencing significant price declines, but official data contradicts claims of drastic drops. 05:06 Many claim property prices have dropped by 20-50%, but official data shows a decline in new and resale housing prices. 05:06 Pre-owned residential properties in first-tier cities decreased by 0.4% YoY, while second and third-tier cities saw larger decreases. 05:42 Shanghai had the highest month-on-month decline in pre-owned residential prices at 1.2%. 06:04 The CCP's official data is often manipulated and beautified, leading to doubts about its accuracy. 07:16 The Chinese authorities use propaganda and censorship to control the narrative around the real estate market. 09:03 🏢 Real estate agents in Shenzhen are facing a challenging survival situation due to low transaction volumes and reduced income. 09:43 In the first half of this year, Shenzhen agents sold a total of 20,000 resale homes, with an average monthly transaction volume of 0.09 homes per agent. 09:43 The newcomer rate in the Shenzhen intermediary industry was approximately 21.6% in the first half of this year, compared to 49.3% in the booming market of 2020. 10:28 The volume of second-hand housing transactions in Shenzhen has been declining since 2020, with only around 21,000 units sold in the first half of this year. 11:33 There have been cases of homeowners giving away properties in Shenzhen, possibly due to potential mortgage defaults. 11:52 Factors affecting home buyers' entry into the market include lack of confidence in economic recovery, employment pressure, declining income expectations, and weak property price expectations. 12:46 📉 The Chinese real estate market is experiencing a decline in transaction prices, sluggish volume, and a rise in unsold properties, leading to concerns of oversupply and potential defaults. 13:34 The average transaction price of pre-owned properties in Shenzhen has decreased by 7% year-on-year. 13:34 The overall stock of unsold residential properties in China has exceeded 650 million square meters. 14:02 68 out of 100 cities in China have an inventory digestion period of more than 14 months, indicating challenging sales conditions for housing in nearly 70% of the cities. 14:24 The number of newly listed pre-owned homes in Beijing has reached a multi-year high, leading to a stagnation between buyers and sellers. 14:46 The market is increasingly convinced that the second wave of defaults by Chinese real estate companies is imminent, which could further damage economic confidence. 15:38 🏢 The Chinese real estate market is facing challenges due to factors like unemployment, declining income, and lack of confidence, prompting intervention from the government. 18:17 The People's Bank of China and the China Banking and Insurance Regulatory Commission have extended the deadline for financial institutions to support the real estate market. 18:17 The policy extension allows real estate companies to extend debt repayment and exempts relevant institutions and personnel from responsibility for non-performing loans. 18:29 The government is willing to sacrifice bank interests to save the real estate market and financially support local governments. 19:11 Over 70% of China's housing prices consist of land costs and government fees, which contribute to local government revenue. 19:25 The real estate sector has a significant impact on 40+ upstream and downstream industries, affecting government fiscal revenues. 19:45
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