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China: 60 Million Unsold Apartments is Disaster for Economy in 2024 as Property Crash Continues - Joe Blogs
CHINA has over 60 Million Unsold Apartments which is a Total Disaster for the Economy in 2024. The Property Sector accounts for around 25% of the Chinese Economy and the Collapse over the past few years has caused major problems for China. The latest data shows that the FALL in Property Prices is now accelerating. China recently announced additional measure to save the property sector including offering cheaper mortgages, offering mortgages with lower deposits and allowing Local Government to buy unsold apartments. In this video I look at the results of the recent TRIALS that have taken place in 5 Cities in China, discuss whether the new package will attract buyers back into the market and talk about the potential impact on both the Chinese Economy and the Global Economy.
Chapters:
0:00 Intro
4:04 PROPERTY MARKET
5:43 FALLING PRICES
8:35 NEW CONSTRUCTION
10:37 UNSOLD PROPERTY
13:18 WORST CITIES
14:53 STIMULUS MEASURES
16:07 TRIAL CITIES
19:12 SUMMARY & CONCLUSION