Comments by "Winston Smith" (@kryts27) on "4 Million Foreclosed Homes Yearly, Countless Owners Homeless, China’s Real Estate Bubble Bursts!" video.

  1. What is the default rate of home buyers in China? 40%, 50%, 60% of buyers now with severe unemployment issues? The reaction of the CCP is predicable; screw the average mortgage payer until he she has no money left. 2. After defaulting, depress the credit score of the individual until he or she can't ride buses or go to hospital. If you are older this might be the end of you, but young people don't need hospital much. 3. Carry the real estate debt onto the next family generation. This would not be legal in the West, but this is the CCP we're talking about. 4. Destroy the building and wait for the next round of suckers to invest in building boom. This is least likely as the majority of people are not that stupid (for a generation). House buyers now will have much better price and supply choice.
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