Australia as well. So much money tied up in real estate (it's SO common for regular families to have multiple 'investment properties') and as a result the country is an innovator in exactly nothing.

it appears that housing is a common and serious problem that demands a solution. how do you cheaply house people in quality housing without ruining your economy?

​​​@@anthonydpearson And real estate isn't supposed to be a "Get Rich Quick" scheme. A lot of people in the past did it just to supplement their income. Especially if you're just renting out Single-Family homes. In contrast to owning a big apartment building. Something happened. Where the corporate folks got more involved in this scheme. Plus the property taxes, zoning laws, and lack of rent control.

@@PlaystationMasterPS3you treat housing as a public utility instead of an investment vehicle.

Housing has to stop being an investment wealth generator.@@PlaystationMasterPS3

And

Yeah. I heard the local governments are turning to fines to generate income. The police will sweep through a neighborhood in the middle of the night to find parking violations. Sometimes even creating those violations by removing parking spaces. There are whole neighborhoods with little to no parking now. And remember that China is a cashless society so people are being charged as they slept.

The debt is probably owned to Chinese people, plus the Real estate bubble popping is a needed correction. Unlike the US gov't, China's gov't will not bail out bad businesses.

You cannot deliver a profit eternally, you people are nuts.

@@Skr0ng The reason that this is important is that GDP growth as stated in China (which the CCP has admitted is flawed) includes the local government spending on these infrastructure projects. This creates a set of double trouble for the PRC. Problem one there is a ton of oddly configured debt through LGSV's (Local Government Special Vehicles) that is not accounted for. In some poorer provinces, the entire budget of the province is spent on servicing this debt. So, there is another large debt overhang that is not accounted for. Problem two is that these governments can not fund these GDP projects if they can not sell land. This will directly impact GDP statistics.

Over 90% of Chinese own their own home. Look up what it is in your country. You might be surprised.

Agreed!

cough cough a large percentage of university town housing and vacation rentals

Yeah because housing in the West is doing so well 😂😂🙄🥱

They can invest in the stock market the average Chinese person just doesn't trust it whether it's to many Chinese companies caught lying or the government cracking down on them. So they invest in housing which can never go wrong lol.

why can’t they invest if you can explain please 😊

@@hari-po1fv it has to do with the control of totalitarian government, they tried to have a stock exchange, it did not go very well because it had restricting rules (I don't remember exactly eedit: I somewhat recall the government wanted to determine the value of important stocks beside market laws) they decided it was not worth it and basically prohibited it for the masses. I'm not saying adopting western model would have been better, but it is true that the people needed a way to use the money they got from the booming economy

There is stock market in China...

@@hari-po1fvThe government owns ***everything***. There is zero TO invest in. If you want to start a business or manufacture a product you must seek permission of the state. Private investment is forbidden. You can put your money in a bank account or buy property. That is it.

you know they're part of the same conglomerate right? they're all part of nebula

Holy shit… totally thought that was PolyMatter’s until about two mins in. Then I was like “wait, hold on” 😅

​@@alexanderwalls4466i think Wendover came first. Regardless, they do compete in the same type of UKposts documentaries and their style is very much similar.

i literally thought this was a polymatter video until he started talking 😂

Turns out many channels can cover big world news

Sad to think that in this instance just sticking the money in a bank account would have been better. If that's your only option your economy really is tanking.

@@alibushell6762 the problem with that is that a LOT of the money in china stored in banks are in shadow banks(e.g. madoff investment securities). And those banks also went poof because of the crashing real estate + stock market. The stock market also crashed a bit(I think it's somewhat recovered now). Unironically you may have been better off keeping your money in your pillow or something.

Uhhhhh so was the whole crypto hype propped up by Chinese money from people trying to invest in a country where they had limited options?

Actually, most people are forced by the government to buy.😢

@@alibushell6762 Yea but then you don't get any returns. The real issue in China is that only property had decent legal protections from just being seized by the goverment randomly for its own ends. This is unlike the stock market which is almost completely under the control of the central government. This incendent reallly shows the importance of property rights to long term economic health.

Basically everyone I know owns one now, priced around 90000 rmb. Interesting fact, eu as the most sustainability enthusiastic group, now don’t want EV anymore even though it does good for environment

@@ranii3116From what I understand, EU is a trade bloc so it has its members economy at its highest priority. China can make EVs faster and cheaper than European manufacturers so they will likely implement tariffs to help protect members car industry’s (China EVs sales taking away from EU EV sales). Seems to me like an economic > environment sort of thing

@@ranii3116 That's super cheap, $12,500. Average American car price is $48,000, 4x your car price.

@@Sam42069 Yes, you can't fully go all in on just environmental concerns -- economic and security are very important as well.

@@henli-rw5dw But the $12,500 is for a super cheap EV that doesn't fit all the regulations of most or all western countries. BTW, the lowest cost EV in the US is actually $29k and that doesn't include any government rebates.

Just buy and invest in Gold or other reliable stock , the government has failed us and we cant keep living like this.

epater la bourgeoisie

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What the fuck is this bot bullshit. Guys, report this and move on

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It is not a China problem, it is a developing country problem. Once and if they resolved that. They will be developed countries. On the other hand, bigger and more gaps in the developed countries will turn them back into developing countries. The western countries are developed because of war and colonization, not democracy. The democracy actually makes Western countries weak in competition and will make them lose to authoritarian countries. It is a sad reality.

they compared incomes to housing costs. China's are the worst in the world.

@@sibaraku2023 What evidence do you have to support this claim?

@@guillermogutierrez3845 The human history.

​@sibaraku2023 uh... I think your knowledge if history is inaccurate.

It's happening all over the world. Certainly here in most of Europe, and I hear the same tales from the US and Canada, and parts of South America even. Investors buying up property and driving prices ever higher, and mostly leaving it empty of course. I lived next to a 5 story apartment building owned by someone from Russia. It was empty the whole time I lived where. Apparently it since got sold to someone from Saudi Arabia, and is still empty. Honestly the Spanish Ocupas movement has the right idea, moving into these investment properties that are perpetually empty like that. It's a shame that investment is still considered more important than the right to housing.

The New Zealand housing market already crashed during COVID….. but it’s already taken back all it’s loses. On average in NZ during 2021 houses lost 138k of its value, approximately 18% decline to the market. Are you sure it is a balloon when it already crashed, “deflated” so recently?

@@CMDKeenCZ One would think that they would have tenants, but I digress. How History Works made a video on this basically we're entering the end of a 400-year-old cycle, except this time it's the cities that are getting more expensive.

@@KRYMauLFinishing out a building and renting it out is costly. The buyers don't want to own a building, their only goal is to sell it at a higher price to someone else. It's pure speculation, and the fact that the object in question is a building is hardly relevant. It might as well be a stock, or a baseball card, or a ... you know, one of those tokens that attracts the bots if you mention it.

Will the bubble burst though if our population keeps growing? plus you cant build a new house for less than the price of buying an existing one so why would house prices go down?

Was interested to find out why there meanwhile isn't so much talk about whether HK is facing the danger of a property bubble too that could lead to a financial crisis

@@lzh4950 What I can say is real estate prices have been falling because hundreds of thousands of wealthy citizens are leaving, so supply is up and demand is down at the moment. Real estate is surely unaffordable to many, but the demand is still real, so I think it's not as dire as what's described in the video. It helps that the Hong Kong market and the Chinese market are still somewhat segregated

It’s a raw metric of income over cost - it’s useful as a comparative tool between cities, but he’s not suggesting that it would actually take the average person 13 years to buy a home. If you add in other parts of the equation like local interest rates and cost of living, it becomes a somewhat less useful tool in the scope of evaluating real estate costs

Average vs. median. Had they used the median income the figure would be a lot more realistic.

All of those statistics are something you cant take as hard fact because of the amount of variance in them. Does average salary include the people making >50 million a year who just happen to have an apartment there but dont actually live there? That pulls the number up. Does it include some of the satellite areas where property value is severely diminished compared to the best areas, and the high rises listed for several million for an apartment as part of the calculation? Without being able to look over the data its just a "give you a rough idea of the disparity" figure, which I appreciate and find appropriate to use but would not parrot as fact in other conversations.

Sure it's probably higher, but the point of the statisic in the video is to show how unaffordable major urban Chinese real estate is. New York City is expensive, but it isn't 40-45 years to buy a home expensive.

🤣🤣 the US con-my is COLLAPSING! people are realizing T bills, NYSE, real estate, and social security in the US is a HUGE PONZI PYRAMID con to enrich the 1%! Bernie Madoff...said the US con-my is the LARGEST PONZI!

Background music clipping, very distracting.

@@salaciouscrumb agreed, I thought my headphones were broken until I read this comment

yea the main issue is something was messed up with this background music, not edited right and so was distracting

There's background music?

Wait, there's a voice there? I thought I've heard someone speaking, but I didn't understood anything... that music...

Yeah something really broke here. Watching on Nebula and came to find the UKposts version specifically to see if anyone had mentioned it in the comments 😂

Shit I was already googling for new headphones

I mentioned this in another recent video, it's so distracting I don't even want to watch.

Yeah this is true.

This, and the sibilance in the voice is only getting worse. Each "s" is like nails on chalkboard, I can correct it on my EQ but it's annoying.

I'm not so sure about the controlled part, they are good at controlling the narrative but they can't hide everything and from what little leaks out, it's pretty doubtful that everything is going well behind their cracked facade.

🤣🤣 the US con-my is COLLAPSING! people are realizing T bills, NYSE, real estate, and social security in the US is a HUGE PONZI PYRAMID con to enrich the 1%!

All to prepare the population for a draft. Mark. My. Words.

It hasn't been demolished but they are preparing to burst the bubble at some point.

Why go to war against opponents better at ruining themselves than you? @@H33t3Speaks

Do these guy use AI voices or is this a human?

@@WillieFungoits a human. You can see him compete in JetLag the Game. His name is sam and he also runs Half as Interesting

@@WillieFungo he’s human! So is the channel I’m talking about (How Money Works)! But I understand where you’re coming from!

he may have that channel too @@Dr_Larken

@@DontReadMyProfilePicture.273 ha jokes on you… Я не умею читать! Was jetzt Mein verzweifelter, Aufmerksamkeit suchen Freund

No clickbait? This is THE clickbait. Every month this guy uploads a video saying how China is going to collapse

​@vukbajic4904 the last time he uploaded a video about China was over a year ago, very easy to check

@@vukbajic4904 nah this channel is far from that chief Just search china collapse, you'll find other channels uploading that crap and barely having any bit of content in them. Its like the same kinda channels which keep having videos about stock market crashing when the index goes down by a whopping 2%. This channel is far from that.

@@vukbajic4904 I think you're confusing this channel with Business Basics.

Idk if it's clickbait but his analysis is extremely narrow. Chinese GDP growth started slowing a decade ago, way before evergrande folded. This video was just a rehash of the evergrande crisis which is hardly an unexplored topic, and it's not the main reason growth is slowing.

Hong Kong is China now

I mean, the central government of China are doing their level best to economically and socially ruin Hong Kong too.

No one caress

@@matthewmelson1780 I do and the commenter does. 2 ≠ 0

why would that matter in the slightest? the b-roll is just there to give your eyes something to do while you listen to the narration.

Cool story.

Don't care

视频上是二十年前的中国，滤镜也用的那么旧

I noticed 😂

In 2008 it was growing at 9 percent. Now it's (officially) growing at 5 percent. And it's continuing to decrease. In a way that means you've lost the race to become rich before you grow old. That's literally the definition of slowing down.

The total population of all countries with GDP higher than China is only 1.2 billion people. At actual living standards, this population will decrease to only 800 million people. You don't need to trust all the economic data, you just need to trust the data that no one can question. In 2006, China's per capita GDP was $7000, and car sales exceeded 25 million. Since then, Chinese cars have maintained above this sales volume. In 2019, China had the largest tourism deficit of over 200 billion US dollars, which is more than the sum of the other top ten tourism countries. In 2019, Chinese people spent 60% more on overseas travel than Americans, and in 2018, they spent twice as much as Americans.

And in England (Scotland has a different system), freehold means you are granted an indefinite right to occupy by the King. So it is basically the same as China. In Scotland, you actually own the land, but there is no practical difference.

not the same, wu mao

Trying to predict China's economic collapse has become the new predicting the end of the world 😂

The thumbnail is still western Propaganda lol "crisis"

@@shinchan-F-urmom Welp clicks need to be generated somehow to get that ad revenue /shrug

because they said it two decades ago and that did not happen, so they say "more time will tell"

Well I’m not sure what you guys are watching but the economic collapse is kinda happening in real time now. At the timescale of the rise and fall of nations, I’d say the predictions weren’t too far off.

It also betted big that Malaysia's Johor state's Iskandar region would become to neighbouring Singapore what Shenzhen, mainland China has become to HK, by reclaiming ~14km^2 of land to build Forest City to supposedly house 700000 people eventually, but looks like sales have stalled after both Malaysia & China changed their policies; the former to no longer grant PR automatically to foreign homebuyers, & the latter to make it harder for their citizens to bring money out of the country

This is anti China propaganda

Hong Kong footage

I doubt they'd want to spread out the dense population centres, major cities are more economically successful. Probably they just want to promote domestic tourism to keep money inside the country. The only real reason they'd have to try and move population centres are for water resources and to have non-port cities.

Boston avg home still much bigger and the income:rent ratio is still more favorable in BOS. But there are some similarities.

Maybe Gen Z. Millennials are mostly in their 30s and 40s now and the older cohort actually has some decent wealth accumulated.

​@@Homer-OJ-Simpson Hong Kong u mean .

those are just airbnbs 😅

Not really, the property issue in the western world is actually the exact opposite of China's. Most european capitals have had housing issues since the 80s-90s and the end of state controlled construction companies. The market in China has a very high supply, the supply in europe is almost non existent. People who would sell dont because they'd lose money since people can't afford higher prices due to interest rates, so the market are extremely stagnant, prices dont go down while they should & housing (whether rent or property) is real issue for more and more people.

Property crisis in America: not enough houses. The exact opposite of China

this is true, but at least there it was caused by covid-19 forcing businesses all at once to finally get on with WFH and the land could be reused to build residential buildings which are in demand. a new york state law allowing dense housing without parking minimums on any plot zoned for offices would help a lot

@@sairenrysten9795 In the US, and i think candada, its a mix of both. There simply isnt enough supply and most of what is getting built is either earmarked to large investors or gets gobbled up by large real estate companies. to make matters worse is that they will idle some properties, deliberately keeping them vacant, to boost demand (and therefore price) of their other properties. The annoying thing is that these idle properties are technically still on the market and accepting applications. Its just that none ever get approved yet the people applying still have to pay the application fee which can range 40-100 USD each. This basically enables them to offset the cost of leaving it vacant and accureing property taxes.

Nah, it's been revealed Toby is coming back next season.

In a nutshell, China is not the great rising superpower that we have been deceived to believe. In truth, China is a nation that is about to completely fail. Their entire financial system was built off hyper debt they knew they couldn't pay off; their economy is powered by imports containing resources that China's geography doesn't have--resources that are only possible to obtain because of the Order; and China is suffering a terminal demographic collapse. Now that the Order is collapsing, oceanic free trade is soon coming to an end, and China has no real navy to protect themselves from what's coming next--nor will they be able to bring in enough imports to maintain their current population or make enough adults in time to keep the ceiling held up as they ran out of adults years ago. They're done. A massive famine is coming. And many are not going to make it.

In a nutshell, China is not the great rising superpower that we have been deceived to believe. In truth, China is nation that is about to completely fail. Their entire financial system was built off hyper debt they knew they couldn't pay off; their economy is powered by imports containing resources that China's geography doesn't have--resources that are only possible to obtain because of the Order; and China is suffering a terminal demographic collapse. Now that the Order is collapsing, oceanic free trade is soon coming to an end, and China has no real navy to protect themselves from what's coming next--nor will they be able to bring in enough imports to maintain their current population or make enough adults in time to keep the ceiling held up as they ran out of adults years ago. They're done. A massive famine is coming. And many are not going to make it.

In a nutshell, China is not the great rising superpower that we have been deceived to believe. In truth, China is nation that is about to completely fail. Their entire financial system was built off hyper debt they knew they couldn't pay off; their economy is powered by imports containing resources that China's geography doesn't have--resources that are only possible to obtain because of the Order; and China is suffering a terminal demographic fail. Now that the Order is collapsing, oceanic free trade is soon coming to an end, and China has no real navy to protect themselves from what's coming next--nor will they be able to bring in enough imports to maintain their current population or make enough adults in time to keep the ceiling held up as they ran out of adults years ago. They're done. A massive famine is coming. And many are not going to make it.

"a good thing" as in terrible mistakes left to keep getting worse but finally something is being done to address it? All while Xi's policies on other matters that effect housing have worsened the problem? I agree it needed to be deflated but the issue gets much worse with Xi driving down the economy with many of his policies so now there will be a hit on the housing market at the same time the economic growth is shrinking relatively fast.

I doubt it is controlled

​@@neodym5809 it might not be preferred or planned, but the CCP has its hands on more levers of control than any other economy. They can even make billionaires behave!

@@neodym5809 Well house prices aren't falling that much and the bubble isn't being reinflated, so your doubts are incorrect.

@@Homer-OJ-Simpson They haven't worsened the problem. By deflating the property bubble, he's making it better in the long run. Chillax pal, economics isn't for everyone. There are other hobbies out there. Croquet seems popular for folk your age?

Big stimulus package in the lead up to the Lunar New Year holiday. But what’s shocking is how short-lived the effect was. After stimulus-driven growth in January and February, March was one of the worst months that China has had in a very long time. Especially concerning are the signs that the stimulus didn’t just fail to put a floor on property values, the stimulus barely even slowed the downward acceleration. The US is enjoying record growth.

And with the demographic issues, just imagine the future. The coming years are only going to get worse as supporting those expanding retirees continue to put a bigger and bigger load on the diminishing workers. ​@@yopyop3241

I think it's more of a "we've been seeing China collapse for 4 years now, are you finally going to admit it China?" lol

@@marw9541 actually China have been collapsing for 20 years or 40 year even 70 years... and it have been collapsing to No.2 economy in the world... if not No.1 by PPP measurement.

@@yuey0602 ahhh, someone that has their head in the sand 😊 have a nice day, I can't educate people like you unfortunately

@@marw9541 👍👍👍

​@@marw9541 4 years? Gordan Chang has been predicting the collapse of China for 30 years now 😂😂😂

some buildings yes. when they're not even expected to be sold/occupied. certainly not all or even most buildings.

There are buildings failing but that’s not representative of the average quality over there. 1. You should always remember how big china vs how many buildings/projects actually failed. 2. Theoretically china has the strictest regulations on civil engineering. It was jaw dropping to hear that engineers and project managers are held accountable for the lifetime of a building/project, meaning that should it failed prematurely or unexpectedly, personnel’s overseeing the project will go to jail. That said, you will likely hear more of the building failure because 1. In a highly competitive market like china, outsourcing the project to subcontractors are common, sometimes that causes problems because of cost cutting. 2. Most importantly, strict regulations are only installed in recent decades, questionable engineering practices were very common back in the days.

Ehh

Nope

I agree. Spain had a economic boom with construction

Spain is just old and the pensioners will be a burden to the youth

@@dennisestradda9746they should consider MAiD

Greatings from the Uruguay, Yeah, I've been following the news. China's economy has been a powerhouse for so long, so any signs of slowdown could ripple through the global economy.

That's concerning, especially for those of us who have investments tied to China or rely on Chinese imports and exports for business.

Exactly. It might be a good idea to reassess our investment portfolios and see if there are any adjustments we need to make in light of these developments.

Agreed. It might also be worth considering seeking advice from a financial advisory firm.

Do you happen to work with any, that is very reliable

Down at the bottom

Probably pretty rough. Canada housing prices to per capita GDP is depressing, it’s even worse than California.

Vancouver was in the charts

So, this time Wendover drew the short straw. Well, someone had to tell us “bad China collapse now”.

China has been collapsing since 1970s lol

🌈🌈🌈 has fkd your economy

It remains to be seen if they are falling apart. Due to it being China, they have alot more control and have been able to slow down the collapse of Evergrande and the other developers. They have also banned prices of homes falling so we have seen houses being sold at like $500,000, but they give you a gift of a gold bar worth 100,000. The market is trying to correct the prices, but the government won't allow them to so they are trying to be clever. But eventually these companies will finish imploding. Only when that happens will we really be able to tell if they are falling apart. But they certainly aren't going to split into multiple countries or anything like that.

It's keeping it afloat for now but it will have to pop.

Not quite. It's true that they tried to slow down the bubble but they didn't try to pop it. It happened independently from their wishes. Hell, you'd think they're trying to reinflate it by telling their banks to extend cheap loans to developpers and easing access to properties.

They are not that smart - very little of what the CCP does is intelligent or rational. The CCP is failing. Get out while you can.

@@JeRefuseDeBienPrononcerBaleine A "pop" is a sudden deflation, which is very bad for economy, as the US found out in 2008.

Surprised he didn't mention this key point.

The problem is that the average Chinese don`t have any safe investments they can invest in to make their money grow. Even a bank account may not be risk free. Is this comment by Xi leveled at the local governments,banks and developers who made it happen in the first place? Or is it Xi`s way of telling the people to spend their money some other way.

As shady as the CCP can get, what they did here with the housing bubble seems to make a lot of sense.

​@@Corredor1230except that it needed to be done 10 to 15 years ago. Instead, the CCP spent that time getting its shills to say that there was no problem, and everything was just western propaganda. Just like they did with the one child policy.

@@Corredor1230 Yup, they HAD To pop the bubble. It was either they do this kind of hard landing or a total crash years down the line.

❤Precisely well said

No, that's exactly what's happening and calling it a "controlled demolition" makes me wonder how in the world you define "controlled". China's economy is absolutely collapsing.

LPG exists. We don't need piped gas

@@triadwarfareyour misunderstanding buddy. Piped gas is literally the pipe into your home. A lot of places around the world still use gas tanks to supply homes. Especially in remote areas.

correct me if I'm wrong but norway doesn't use LPG, but they run their homes on electricity. So they're mistaken either way and both comments are essentially bragging about it which is silly@@kingayman5225

Wendover Productions / Half as Interesting is just doing their usual American propaganda. Gas tank LPG is very common. My old apartment in Taiwan have those for cooking and water heater.

Norway don't have 1.4 billion people

We're motivated China won't be the #1 country in the world.