• Kusimulkku@lemm.ee
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    11 个月前

    I mean, that sector is also a huge employer with lots of construction companies and jobs tied directly and indirectly to it. If the construction section comes down, that’s going to cause a lot of hardship on a lot of people. So even with cheaper houses (for a while, if the construction sector doesn’t improve you’ll get high prices again later) I’d say it’s a huge net negative for people and their lives.

      • Kusimulkku@lemm.ee
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        11 个月前

        I don’t know if you are using the word differently but property market includes stuff like construction companies, development companies, architect companies, material suppliers, engineering companies and stuff like that. Building a house seems fairly productive, for example.

        • Linkerbaan@lemmy.world
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          11 个月前

          Building a house is productive.

          Taking payment in advance before building a house and buying a yaught, then having no budget to build the house so you take payment for another house and use that money to build the first house

          is not productive.

          • Kusimulkku@lemm.ee
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            11 个月前

            Unfortunately all of that is included in that sector. So while that is shit and wouldn’t mind them being punished, there’s also all the other jobs and economic considerations. A lot of workers are working directly or indirectly within that sector.

            • Linkerbaan@lemmy.world
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              11 个月前

              No all of that is included because Evergrande is a ponzi scheme. They can undercut their competition by selling houses for such a low price that they can’t build them.

              So they run on people pouring more and more money in and putting more and more projects on hold. That’s a ponzi scheme.

              Building houses doesn’t have to be a ponzi scheme. Evergrande is.

              • Kusimulkku@lemm.ee
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                11 个月前

                Evergrande operates in the same sector and is a big player there. I won’t shed a tear for them. What I’m saying is that hopefully them going down won’t take anyone else with them and cause havoc on the whole sector.

                • Linkerbaan@lemmy.world
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                  11 个月前

                  It will because now there will be a mass sale. Also China’s only means of investment being houses instead of the stock market did help Evergrande pump up their bubble quite a bit.

                  The Evergrande director will take his golden parachute, many poorer Chinese people will be left scammed, with nothing.