At least 48 million homes in China have been sold before they are completed, suggesting the country’s real estate crisis isn’t set to end anytime soon, Bloomberg Intelligence said. The figure, based on advance sales data from 2015 to the first half of this year, exceeds Germany’s total housing stock in 2021. This poses a direct threat to developer profits as people may shy away from pre-sales on new homes and start buying completed or second-hand properties instead, BI analysts Christy Fung and Monica See said in a report. China’s real estate industry faces several headwinds. Despite rescue measures that include a 300 billion yuan ($57 billion) refinancing program, developers are struggling with a liquidity shortage. New home sales in July were down 19.7% from the same month last year.
>>12 They’ve been doing this for a long time The plan is to have local governments buy them, complete them, and offer them as low-income housing The necessary funds would put even more pressure on local governments already struggling with debt There’s not a shortage of housing in the first place, so they’re not selling as well as expected.
Since Toramomo, who only graduated from junior high school, has no one among his friends who has time for old man hobbies, the details are likely to be found on the dashcam. I don’t really know, but if that’s the case, then it’s fine as long as he keeps the 100 million yen.
It’s a speculative target like spinning a bomb, so when the foundation is done, you resell it, when the structure is done, you resell it, put up the panels and resell it, put up the equipment and resell it, put up the FFE and resell it, it’s a game of who will own it in the end.
In China, it’s common to pay before an apartment building is built to get it cheap, then resell it after it’s completed, so the resellers are being scammed.
>>48 State-owned enterprises are like semi-public entities, but real estate developers are state-owned enterprises that are completely controlled by local governments or the Communist Party. If they think they can make a profit, they’ll build properties without any consideration.
0056(Somewhere in Japan) (Mushroom) (Somewhere in Japan) [Nuko].Aug. 15, 2024 (Thu) 19:52:31.17ID:+QWZphby0
If you’ve ever been to a place far from a city in China, you’ll know this, but even in places where concrete is crumbling and there are no windows, and you’d think this is a ruin, there are still people living there. Even though it’s unfinished, the exterior walls are brand new, so they’ll just live there like normal. On the other hand, you might be lucky if the price goes down.
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