Comments by "Bobby Loo" (@BobbyLoo-jr8ys) on "Pessimism Surges in China; Over 6,000 Rights Protests in Two Years, Economy Set back 30 Years" video.

both the citizen and govt fault. Its the govt fault bc they only want to control ppl and don't care about them. Ppl fault: following western culture's bad habit for the idea of mortgage. Since it is easier to get mortgage, more ppl get approval which drives up the price. If there was no mortgage, then the demand is down, and the price is not insane. People were too confident by taking large loans for cars and house and etc, thinking their job is " forever job". And when they get cut, their balance sheet tumbles and fails, as the calcuation does NOT balance and over time, become debtors. I will never borrow from the bank to buy a house in China. I just wait till the price drops further and then snap one up, paid in full, cash in 1st tier.
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