China’s Rich are Dumping Properties in Fear of a Sinking Ship

After the 20th National Congress of the Chinese Communist Party (CCP), the Xi family army is in control of power in China, and people who know little about the political ecology of China are saying “it’s over”. Beijing, Shanghai, Shenzhen, among other places set off a wave of wealthy people selling their properties, in an attempt to abandon the collapsing ship of the CCP. At this time, an editorial was, which triggered the public opinion field to be filled with grief.

The editorial, titled “Actively preparing for the revaluation of risky assets,” said that the current valuation of China’s housing is based on the financial attributes of houses, and as a result, high housing prices have raised the cost of running the economy and society, and it is only a matter of time before real estate is revalued and priced. Since the report of the 20th National Congress emphasizes that housing is not speculative and rent-to-own, investors should be prepared to actively revalue real estate.

This editorial is very straightforward, that is, the golden age of real estate officially declared the end of the future only to protect the house’s livelihood attributes, not to protect the value of the attributes. The bottom line cannot rescue the market, and it is estimated that there will not be a new round of stimulus policies. Some real estate industry insiders said that the first plenary session of the dust settled, we have no illusions, and many people are worried about the unrestricted expansion of the public sector economy. Many of China’s wealthy no longer have illusions about the future and have to sell their properties. With the eager to escape, the jump in sales of luxury properties in Shanghai was selling at 30% to 40% discounted prices.

Li Ka-Shing said “don’t make the last penny” and Miles Guo warned a few years ago that China’s real estate bubble would burst and that many people would be blown to pieces by a nuclear-grade bubble burst, but how many people want to believe it? This policy shift will be a huge blow to the capitalists and speculators related to the real estate industry, after all, the Chinese communist authorities want a ‘commonwealth’, so it is inevitable to take advantage of this group. Some people are so blinded by the CCP’s lies and temporary wealth that they have sadly lost their last chance to escape.

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Translator: OxfordGNews
Design&editor: HBamboo(昆仑竹)

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