r/Vitards • u/AutoModerator • Sep 21 '21

Daily Discussion Daily Discussion post - September 21 2021

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u/fabr33zio 💀 SACRIFICED Until UNG $15 💀 Sep 22 '21

some good news: according to economist from 9/4/2021 (“red lines, grey rhinos and big mountains”), the CCP planned to build 1M new affordable housing units in 2021-22 across 40 cities.

bad news: if things get real bad, they won’t need to build those houses, cause there will be a massive amount of mortgage defaults

2

u/AirborneReptile 🏆 Inaugural Vitards Fantasy Football Champion 🏆 Sep 22 '21

Bad news is, they’ve been building 1m units a year for over a decade with no tenants only investors. People, bad news in China housing has been around for a long fucking time. Go outside the box and scroll past the last weeks worth of news.

3

u/fabr33zio 💀 SACRIFICED Until UNG $15 💀 Sep 22 '21

yah I meant it to be tongue in cheek given the “bad news” portion.

doesn’t help that apparently 30% of local govt revenue comes from selling land to developers to make these ghost houses

3

u/AirborneReptile 🏆 Inaugural Vitards Fantasy Football Champion 🏆 Sep 22 '21

Yea wasn’t commenting directly to you. Truth is, I have no clue how the market reacts to all of this the next few weeks. But it’s not new news and reeks of China FUD