Comments by "schloops" (@schloops8473) on "China unveils biggest stimulus since the pandemic -- is it enough? | DW News" video.
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When beijing and shanghai housing is more expensive than in London, Paris, New-York, then confidence is not the problem... the problem is that prices need to be, at a MINIMUM, halved, and until that happens, buying is basically a fools errand. You are also right that the way they used unfinished properties to finance new ones is a massive problem too, but that one has already created the problem of there being way too many houses and has somewhat been made an illegal practice now with the rules on lending to promoters (20 years too late).
Basically, too many finished houses and lots of unnecessary constructions rotting, massive debts and incompetent, corrupt leaders that will shower themselves with public money and grow an even bigger hole.
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