>>513649850
First to understand is that they're really only very recently wealthy just 40 years ago most of them were living in abject poverty and I dont mean what american nigger thinks is poverty where Whites house clothe and feed him give him money for a car and even cigarettes and 40s on his EBT card.
No, the type of poverty where millions of them still died of starvation and lived in conditions which make a brazilian favela look like a five star resort.
So now that they're suddenly in glitzy cities with global middle class incomes with all modern amenities and starvation is just a bad memory - being so poor is still so fresh to them that my kitchen psychologist assessment is they're afraid of losing it - of going back to poverty.
So they are afraid to spend and this is creating a problem for the local spending - they are stingy and want to save fearing that they'll be soon starving in a tin shack again.
And since they have money saved up well everyone knows inflation is a thing and cash loses value so where do they invest - well real estate is something concrete isn't it.
We have to also remember that chinks are still notorious scammers and chinks have hard time of trusting their countrymen - so buying up stocks in a company might feel like it could just *poof* disappear at any moment with your life investments.
So they think that if they buy real estate - at least it does exist and can be sold - a good place to park money right.
Plus there are currency controls in China - they dont want the money to be going out of the country to be potentially sucked up by other countries.
So now there is a billion Chinese that want to invest but cant do it overseas and dont trust Chinese stocks - so real estate it is.
And this is how the bubble happened, the construction companies answered to huge demand for investment real estate - it was not residential anymore since most of the chinks that moved from rural areas to cities had already moved.