China's Property Sector: A Bubble Bursting? | CNBC International

35775   140   41
China's property sector: A bubble bursting? China's property boom has turned to bust and the sector that was once a growth engine is now turning into a burden. CNBC's Eunice Yoon reports in this episode of "Inside China."Subscribe to CNBC International: http://bit.ly/1eiWsDqLike us on CNBC's Facebook pagehttps://www.facebook.com/cnbcFollow us on CNBC's Twitter accountshttps://twitter.com/CNBCWorldhttps://twitter.com/CNBC

Комментарии

@mogeking56
@mogeking56 14-08-2022 03:21
If only China 🇨🇳 CCP could hide 🫣 this nightmare from the world 🌎 and the Chinese people it would not be so bad, but those damn Americans have exposed the incompetent greedy China 🇨🇳 CCP all of that housing kickback money down in their home 🏡 basements is almost busting out they need to buy another house 🏡 with a basement to hide 🙈 all of their kickback money the China 🇨🇳 CCP needs a way out of this mess. Maybe 🤔 they could build a larger space station in space of course and all of the top China 🇨🇳 CCP members could live there just in case the people start to have a mass riots they could keep themselves and their money safe from the poor Chinese man and woman it’s a great idea 💡. So…..Let’s get started on building a giant 50 mile radius space station to house the China 🇨🇳 CCP members just the top ranked of course 🤓😏😕🫡
I am bad very bad 🥹😂🤣😂
@footballdreamer9275
@footballdreamer9275 17-09-2021 16:04
I guess we are all back here because of Evergrande
@aldusougiaziz3025
@aldusougiaziz3025 18-05-2020 20:35
Hello,
I am a real estate marketer.
I have an investment offer of more than 20 million dollars.
A Dutch investor in USA, wants to invest in China in real estate.
.... For ready, Please Contact me
Whats app: +966506521529
Wechat: +966506521529
Call: +966506521529
Email; aldosoque1995@gmail.com
@tcyin1
@tcyin1 16-06-2019 06:49
China when having money dealt only in concrete and steel. These, if these are the only thongs Xi planned, he finds people cant eat concrete and steel.
@bgregg55
@bgregg55 26-02-2019 23:47
Ignore the Chinese housing bubble at your peril. I wonder how many of these high rise apartment buildings will survive the next earthquake.
@livefreeordie7598
@livefreeordie7598 06-02-2019 13:55
YEAH, it bursted down 10% and now the property value's up 200% :)
@debasishraychawdhuri
@debasishraychawdhuri 06-02-2019 08:45
Looks like they are building apartments with a target customer base of Donald Trumps.
@alexanderellyos468
@alexanderellyos468 19-11-2018 15:22
Calm down, sooner or later everything must be filled. China's population is the largest in the world. Only economists and foreign media are making noise
@davidhynes
@davidhynes 13-11-2018 22:19
what a waste and we cannot even find an apartment here in Canada.
@davidhynes
@davidhynes 18-07-2018 21:45
They all moved to North America.
@davidhynes
@davidhynes 18-07-2018 21:42
50-60n ghost cities and here in canada we cannot find an apartment people have to live on the streets, greedy china.
@Anonymous-li6py
@Anonymous-li6py 07-04-2018 02:59
After 3 years China is still doing fine. Stop making fake news. Focus on how Trump is destroying the United States.
@oliverhsu9465
@oliverhsu9465 07-02-2018 09:14
It’s not overbuilding. Rather the government doesn’t want the normal people to be able to afford. That’s the fucking problem. The political elites and the richfucks are the ones who have popped up the price.
@markfischer3626
@markfischer3626 08-01-2018 05:44
That was 3 years ago. It has only gotten worse. You can't move a business to a ghost city where there's no one to hire and you can't buy or even rent an apartment if you can't get a job. 70 million unoccupied homes in various stages of incompletion or if complete delapudation due to lack of maintenance. China wanted to be the US on steroids and built like it could afford it. It can't and now it has a 32 trillion dollar problem of worthless capital investment it can't solve. China is bankrupt.
@laodum4084
@laodum4084 11-11-2017 14:35
The western media using the Korean  puppet reporter the propaganda for them. With 1.3 billions people that always need houses, they won't go bubble like in US  and  others western countries. Canada and Australia and even US housing market will go bubble without Chinese buying them.
@Evrastrim
@Evrastrim 09-01-2017 07:02
It will never burst, cause it has been already deflated by the government which stopped speculative sales years ago. That will affect constraction pace which is proper thing to prevent creation of the bubble. Well yes, China's GDP will grow 6% or even 5.5% with this construction slowdown. But it's still the best result considering factual volume of GDP.
@laodum4084
@laodum4084 02-01-2017 14:43
Western propaganda, this is in inner Mongolia. How come they don't report about the housing bubble in state of North Dakota, Michigan and others.
@rogerfaint499
@rogerfaint499 21-11-2016 04:48
90% of families in China own their home, giving China one of the highest home ownership rates in the world. What’s more is that 80% of these homes are owned outright, without mortgages or any other leans. On top of this, north of 20% of urban households own more than one home, according to Nomura. How can so many people afford to buy so many houses?It wasn’t until the mid-90s that a series of reforms allowed urban residents to own and sell real estate. People were then given the option to purchase their previously government-owned homes at extremely favorable rates, and most of them made the transition to being property owners. Now with a population provisioned with houses that they could sell at their discretion and the ability to buy homes of their choice, China’s real estate market was set to boom. By 2010, a little over a decade later, it would be the largest such market in the world.                                                                                                                                                                                                                                                                                                                                                                                                                                                                              When a young individual strikes out on their own, lands a decent job, and begins looking to pursue marriage, getting a house is often an essential part of the conversation. Owning a home is virtually a social necessity for an adult in China, and is often a major part of the criteria for evaluating a potential spouse. As parents tend to move into their children’s homes in old age, this truly is a multi-generational affair. So parents will often fork over a large portion of their savings to provision their children with an adequate house — oftentimes buying it years in advance. If parents are not financially able to buy their kids a house outright, they will generally help with the down payment, or at the very least provide access to their social network to borrow the required funds.                                                                                                                                                                                                                                                                                                  To decrease the amount of volatility in China’s often hot property market, there are very strict rules as to how much money people can borrow from the bank for purchasing real estate. Although this slightly varies by city and wavers in response to current economic conditions, for their first home a buyer must lay down a 30% down payment, for the second it’s 60%, and for any property beyond this financing isn’t available. So for people to buy homes in this country they need to step up to the table with a large amount of cash in hand. In fact, 15% of all residential property in China is paid for in full upfront.Why there is so much liquid cash available for these relatively large down payments is straight forward: the Chinese are some of the best savers in the world.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Another way that Chinese home buyers are able to afford their down payments is via the country’s Housing Provident Fund. This fund began when the country started privatizing urban housing as way to help residents afford to buy their homes. Part of this fund included a government initiated savings plan where employees are given the option to invest a portion of their monthly earnings and have it matched by their employer to assist them with buying a house.Once the down payment is accounted for, getting mortgages in China is a relatively straight forward affair, and the standards for qualifying are relatively low. For the most part, a borrower’s monthly salary must be at least twice the monthly repayment rate of the loan. Interest rates hover around 6%. On average, those who have these loans will devote between 30% and 50% of their monthly income towards paying them back.                                                                                                                                                                                                                                          While there is much talk in China and abroad about the increasing number of Chinese home buyers taking our mortgages, relative statistics should quell the hype. Just 18% of Chinese households have mortgages, compared with half of all home owners in the USA. China’s home mortgage-to-GDP ratio was just 15% in 2012, whereas in the USA it was a staggering 81.4%. Although monthly wages in China tend to be relative low, non-performance on mortgages is virtually unheard of — in 2013 the default rate of a mere 0.17%.
@Daren_PNW
@Daren_PNW 09-05-2016 06:06
Crazy.
@LUONG4YAHWEH
@LUONG4YAHWEH 23-04-2016 20:35
Did anyone see the Free Vietnamese flag on top of the ad on the right in 2:40? LOL!! That's funny.

Другие видео канала CNBC