>>507684558
>"houses are for living, not for speculation" - Xi
Lots of Chinese people are upset that their home investments are losing value. Part of why home investments is so big for people in the west is that it becomes a significant asset which creates the NIMBY force of wanting scarcity to preserve that value. Xi just shits on it with the rapid mass developments. The good part is that housing is less of an issue, the bad part is that the many Chinese who copied the west in making their investments in real estate are getting fucked over.