“Living in China for so long, we would like to share some of the comparisons that we have found between China and the west, and shed some light on the situation. Every week, we take you to a new place in China on our bikes, cover a topic, and reply to your questions.”
I’ve posted the ADV China channel since 2012. Occasionally they have a video on real estate like this one, which I though was relevant, timely and has much info on the mortgage strikes the US media is unaware of.
That video was fascinating. Thank you for sharing that.
It is interesting how the topic of their videos has changed. When they still lived in China they Serpenza and Laowhy were both fairly positive, though they did expose the ghost cities and other things. Then things began to change and suddenly they fled into Hong Kong with their Chinese wives and kids. Then they came to the US. After that the tone of their videos changed.
There’s another video here that a reader sent in:
‘Price cuts in housing are inevitable, says Ivy Zelman
Ivy Zelman, Zelman & Associates CEO, joins ‘Closing Bell’ to discuss the major drop in homebuilder sentiment and what that means for the housing market.’
‘The mortgage boycotts flared up last week in the latest threat to a real estate industry already battered by defaults among some of China’s biggest builders.’
‘One unintended consequence of the mortgage protests could be that consumers become less willing to buy homes, curbing developers’ incentives to start new projects, the analysts wrote. This would then hit municipal revenue from land sales.’
‘Every 10 percentage point slowdown in real estate investment growth could translate to a 17% fall in Chinese banks’ earnings for the 2022 financial year, according to Citigroup.’
‘The Bay Area had the largest net outflow of any large metro area over the last three months, Redfin says, and that appears to be driven by the region’s high housing costs and the ability people have to work remotely. Almost 50,000 more people moved out of the Bay Area than moved in.’
‘If large-scale exits from the Bay Area continue to gain pace, it could serve as a reset for a region that some say is going through an identity crisis. Once a center of youth, the Bay Area is now grappling with an aging workforce — the median age in Santa Clara County, 37, and San Mateo County, 40, are both significantly higher than Austin, Texas, where the median age is 34. And despite the demographic shifts, housing and rent prices are once again nearing all-time highs in the Bay Area, alienating service workers and adding fuel to the exodus of middle and high-income workers.’
From the 22 minute video:
Jul 18, 2022
ADVChina Subreddit –
https://reddit.com/r/ADVChina
“Living in China for so long, we would like to share some of the comparisons that we have found between China and the west, and shed some light on the situation. Every week, we take you to a new place in China on our bikes, cover a topic, and reply to your questions.”
I’ve posted the ADV China channel since 2012. Occasionally they have a video on real estate like this one, which I though was relevant, timely and has much info on the mortgage strikes the US media is unaware of.
That video was fascinating. Thank you for sharing that.
It is interesting how the topic of their videos has changed. When they still lived in China they Serpenza and Laowhy were both fairly positive, though they did expose the ghost cities and other things. Then things began to change and suddenly they fled into Hong Kong with their Chinese wives and kids. Then they came to the US. After that the tone of their videos changed.
There’s another video here that a reader sent in:
‘Price cuts in housing are inevitable, says Ivy Zelman
Ivy Zelman, Zelman & Associates CEO, joins ‘Closing Bell’ to discuss the major drop in homebuilder sentiment and what that means for the housing market.’
https://www.cnbc.com/video/2022/07/18/price-cuts-in-housing-are-inevitable-says-ivy-zelman.html
‘The mortgage boycotts flared up last week in the latest threat to a real estate industry already battered by defaults among some of China’s biggest builders.’
‘One unintended consequence of the mortgage protests could be that consumers become less willing to buy homes, curbing developers’ incentives to start new projects, the analysts wrote. This would then hit municipal revenue from land sales.’
‘Every 10 percentage point slowdown in real estate investment growth could translate to a 17% fall in Chinese banks’ earnings for the 2022 financial year, according to Citigroup.’
https://finance.yahoo.com/news/china-banks-forfeit-4-6-044731955.html
‘The Bay Area had the largest net outflow of any large metro area over the last three months, Redfin says, and that appears to be driven by the region’s high housing costs and the ability people have to work remotely. Almost 50,000 more people moved out of the Bay Area than moved in.’
https://www.msn.com/en-us/money/realestate/high-housing-costs-remote-work-leading-people-to-move-out-of-the-bay-area/ar-AAZILQ7
‘If large-scale exits from the Bay Area continue to gain pace, it could serve as a reset for a region that some say is going through an identity crisis. Once a center of youth, the Bay Area is now grappling with an aging workforce — the median age in Santa Clara County, 37, and San Mateo County, 40, are both significantly higher than Austin, Texas, where the median age is 34. And despite the demographic shifts, housing and rent prices are once again nearing all-time highs in the Bay Area, alienating service workers and adding fuel to the exodus of middle and high-income workers.’
https://www.msn.com/en-us/money/realestate/moving-out-california-cities-are-bleeding-residents-how-long-will-the-trend-last/ar-AAZHZKk
A video:
‘Things probably will get worse’ — Big banks brace for an economic downturn
https://finance.yahoo.com/news/big-banks-economic-downturn-morning-brief-100015502.html
Las Vegas, NV Housing Prices Crater 21% YOY As Desperate Sellers Send Inventory Soaring And Prices Plunging Across Southwest States
https://www.movoto.com/nv/89118/market-trends/
As one broke seller lamented, “Whenever I think about how much money I lost on this house I just want to kill myself.”
Don’t fight the Fed my good friends….. Don’t fight the Fed.
Ventura, CA Housing Prices Crater 12% YOY As SoCal Homeowners Get Barbecued
https://www.movoto.com/ca/93001/market-trends/