China new home prices fall at fastest pace in over 9 years in Aug

match , 2 hours ago

oh nooooo the property sector

flamingo_pinyata , 7 hours ago

I hate how it’s framed as a bad thing. Intentional or not, real estate prices falling is a good thing.

Cephalotrocity , 5 hours ago

Home owners have entered the chat.

irotsoma , 4 hours ago

Lower taxes is good for home owners, too. It’s only those wanting to profit from housing prices in the short term who are hurt. The prices will go back up and as long as you are selling and then buying if you move, and the prices are going down across the board, you won’t lose anything.

The only negative really other than for investors is for retirees who need to sell to have money to survive.

And I say this as someone who purchased a home in an overpriced area a couple of years ago. The value has slightly declined and I’d love to see it further decline so I could pay less in taxes. In 15 or 20 years when I’m ready to sell it will be plenty valuable.

RandAlThor OP , 7 hours ago

This I believe is an intended effect of Chinese government’s shift away from depending on housing investment as primary factor in driving growth - to bring home affordability back as home ownership has become a deterrent to marriages and child-rearing, both in severe decline and the biggest long term strategic threat to China.

MediaBiasFactChecker Bot , 7 hours ago

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