☨St Louis IX opposed paganism, hæresy \x26 debauchery
China Observer
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Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "Unstoppable Plunge in Beijing Property Values, Falling Sharply From 3.5 to 1.5 Million" video.
🏘 The housing market in Beijing's surrounding areas, like Yanel, is experiencing a dramatic plunge in prices as Beijing's property prices drop.
00:21
Housing prices in Yanel have dropped by more than 40%, with a villa's asking price going from 3.5 million to 1.5 million.
In 2016, the price per square meter in Yanel reached a high of 41,000 yuan but has now dropped to 13,000 yuan.
🏢 The property market in Beijing is experiencing a significant downturn, with a high number of newly listed secondhand homes and a decrease in transaction volumes.
03:51
The number of newly listed secondhand homes in Beijing reached a historic peak of 170,000.
Many homeowners in Beijing are lowering their asking prices in desperation to sell.
The transaction volume of new residential homes in October decreased by 12% compared to the previous month.
😔 Shanghai's property market is in decline, with a surplus of unsold secondhand homes and decreasing demand causing prices to slide.
06:24
Shanghai's property market is experiencing a population decline and an exodus of young people and middle-class families.
The supply of secondhand homes in Shanghai has reached record levels, but the demand for purchases has diminished.
Sellers in Shanghai's secondhand market are struggling to close sales, with price reductions adding to their pain.
🏠 Insufficient income and high housing prices in China have led to families exhausting their finances to scrape together a downpayment.
09:23
Chinese authorities have introduced various rescue measures to address the housing market situation.
Policies like acknowledging property ownership but not the mortgage aim to stimulate house sales.
The economic situation in China is dire with a decline in exports, rising unemployment rates, financial trust defaults, a fall in the R&B exchange rate, and a sharp drop in the birth rate.
! The real estate market in China is facing challenges due to oversupply and decreasing purchasing power, which may lead to social instability.
12:03
The listing volume for secondhand homes is increasing, indicating a saturated market.
Unfinished buildings and financial turmoil in real estate companies are expected to worsen due to the inability to sell new properties.
The decline in purchasing power among Chinese citizens may lead to a contraction in national purchasing power.
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