Comments by "Bobby Loo" (@BobbyLoo-jr8ys) on "800 Million Chinese in Debt, 400 Million Overdue; Bank Staff Earns Just $1" video.

  1. The main problem with Chinese ppl is that they became westernized, by mortgaging. Back in the day, many Chinese hate owning money, it is like losing face. Bc of housing mortgage and ppl taking on debt, this drived the housing price up and ppl borrowed more. Banks didn't care because the more debt he has, the more money the bank makes. And if he can't pay the debt, the bank simply take the house and he can't do nothing. Chinese ppl got greedy and brough many houses which drive the price even furthered. Now those with morgage and their housing value decreasing, they are the ones crying. For example, they buy the property for 4 M and took 3M loan. Now that same property is with 3M. SO they lost 1 M .
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