Originally Posted by
Hexachordia
This is the so called Chinese Model of economy, using real estate projects as pawns for printing money and loans, as long as there is a persistent driving force behind by devaluation of currency, such model will not lead to visible crisis, because devalued money will force people to buy new housings as everything else become transcient in value. Instead of visible financial crisis, people will be enslaved by these housing loans and environment will be heavily devastated as the hunger for money become uncontrollable for government business croonies. Don`t ever imitate chinese model, don`t import chinese experience. You will regret for your whole life and your posterity will suffer.
The housing prices are likely inflated, as the currency is artificially devaluated by pegging onto foreign currency or equity. These houses are either intended for foreign buyers or as tools of tax escapement by the expats. These are the tumors of corruption which have little to no long term benefit for local people. Just like what is happening in China everyday, pristine lands are exploited for these dirty purposes.
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