For those who only own one home, this is not really a bad thing. They don’t survive off of the equity of their house. It’s a house. It provides shelter and amenities. They will even pay less on property tax.
This really only hurts those that own more than one home. And to that I say, Fuck Em.
The situation in China could deteriorate into global financial collapse.
Yes houses might be cheaper, but with extreme unemployment, inflation, interest, foreclosures et cetera it would be much more difficult to acquire your one house than it is now.
You’re saying only wealthy people would suffer, but that’s not how financial instability works - the poor always do the heavy lifting.
You may “have nothing” now, but I imagine you at least have an opportunity to obtain a slave-wage level job, and food on the table.
In a global financial collapse, you wouldn’t have those things, and there would be violence and unrest.
It’s not as though people with houses lose them and everyone gets respawned with no gear. It’s more like wealthy people don’t notice, people with mortgages struggle to make payments, and people who currently “have nothing” pay more for everything.
This is absolutely one of those “be careful what you wish for” type situations.
I think it’s you who doesn’t get it. In a financial collapse, it’s not the plumbers, electricians, or machinists who will be out of work. It will be the investment bankers, the lawyers, and the middle managers.
Affordable housing is fantastic for everyone, but values of houses falling is kinda scary.
There’s definitely a house of cards feeling in real estate in China, and if there were any sort of collapse it would be felt around the world.
As in any economic instability, the wealthy can consolidate their positions and the poors just get pushed further into the mud.
For those who only own one home, this is not really a bad thing. They don’t survive off of the equity of their house. It’s a house. It provides shelter and amenities. They will even pay less on property tax.
This really only hurts those that own more than one home. And to that I say, Fuck Em.
You seem to have misunderstood my comment.
The situation in China could deteriorate into global financial collapse.
Yes houses might be cheaper, but with extreme unemployment, inflation, interest, foreclosures et cetera it would be much more difficult to acquire your one house than it is now.
You’re saying only wealthy people would suffer, but that’s not how financial instability works - the poor always do the heavy lifting.
When everyone loses everything, those who had nothing feel the impact less.
Sorry, you just don’t seem to get it.
You may “have nothing” now, but I imagine you at least have an opportunity to obtain a slave-wage level job, and food on the table.
In a global financial collapse, you wouldn’t have those things, and there would be violence and unrest.
It’s not as though people with houses lose them and everyone gets respawned with no gear. It’s more like wealthy people don’t notice, people with mortgages struggle to make payments, and people who currently “have nothing” pay more for everything.
This is absolutely one of those “be careful what you wish for” type situations.
I think it’s you who doesn’t get it. In a financial collapse, it’s not the plumbers, electricians, or machinists who will be out of work. It will be the investment bankers, the lawyers, and the middle managers.
They need us far more than we need them.
Thats… just not how economies work.
Yes, but aren’t we talking about a scenario where the economy doesn’t work?
No.
Wasn’t Evergrande supposed to collapse a year or two ago?
Yes.