Comments by "Bobby Loo" (@BobbyLoo-jr8ys) on "China Faces Vast Unemployment: Depleted Funds Lead to Benefit Recalls" video.

  1. One of the main problem is the housing price. With the high demand for wanting to own a house (need it for marriage), this push the housing price beyond reach for many. Yet, many still take HUGE loans with long term mortgage. Think about it, buy the time the home owner has pay it off, it would have double the cost of the original price. But sadly, the housing price fell, which made it worst. So you see, if people didn't take out mortgage and there was less demand, housing price wouldn't be crazy. THe other problem is banks, banks is a business and they know there is a demand and Chinese need money for a house. So bc of this, they lend out money. This is also true in the west. If we get rid of mortgage and long term loans, housing would be more affortable for the middle class. But of course, the bank is a business. THe big winners are those high ranking employees, earning bonus by leading out money to people.
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