Comments by "Patrick T" (@patrickt49) on "Unstoppable Plunge in Beijing Property Values, Falling Sharply From 3.5 to 1.5 Million" video.

  1. That's what happens when they open the floodgates of credit without proper regulation.
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  2. 3.5 million to 1.5 million Lol. That property was never worth 3.5 million.
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  3. Why the hell would you ever buy something you would never own? Is your head screwed on right? Why do you think most Chinese are buying property overseas?
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  4. Shoddy construction and you can't pass the property to next of kin. You're going to get shafted.
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  5. Most people follow the herd. It's all about fear of missing out. They don't stop to think that when the market is too hot, it's already overstated and will correct itself.
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  6.  @laccess911  they don't think different. They're grossly uninformed and make decisions based on herd mentality.
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  7.  @shuben6020  No, what I meant was the value of the property was never worth 3.5 million RMB because it was overassessed. That's what happens when you issue credit willy nilly to everyone without proper regulations to vet people borrowing. So on paper, everyone looks like they're "richer" than they are. But the real economy inevitably pulls everyone back down to reality. It has nothing to do with US dollars.
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