Comments by "Steven Phillips" (@stevenphillips3466) on "China Has 400 Million Mortgage Slaves, With 8% Ending Up With Unfinished Properties" video.

  1. Usually the Government protects the citizen from bad business practices...In China the government is in partnership with the corrupt real estate developer. The Bank should be only releasing funds as construction hits milestones . The way the construction is set up makes Corruption easy , So the developer in combination with the local CCP officials conspire to flee with the money from the only 40% finished building and then put the whole paying the Mortgage on the Citizen . If they wanted to fix this teh CCP could have long a go but its too easy to fleece the citizen of their life long savings ....and then use the police to crush them after the CCP and developer have taken the construction money and ran
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  2. I would never buy an Unfinished apartment in China....Finished or nothing
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