China Needs to Make Property 'Desirable' Again, BofA Says

BofA Securities strategist Winnie Wu says Beijing needs to make the country's property sector "desirable again" since people are not going to "buy a depreciating asset." She says improving confidence in the real estate market will require "a package of policies." On Friday, government statistics showed that China's home prices fell at a faster pace in April amid efforts by policymakers to tackle the property crisis.
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[@kamil_supabase_enjoyer]

If Xi said that houses are too expensive and they needs to go down than why would anyone buy it now when prices go down???

[@ArabicReja973]

Chinese 🇨🇳 property sector, which accounts for 30% of GDP, is crashing.
- Exports and imports, accounting for 37% GDP, are down.
- Foreign investment (FDI) is falling over 90%, lowest in 3 decades.
- Foreign visitors are down 96% compared to the pre-pandemic level in 2019.
- Consumer prices are experiencing deflation.
- Youth unemployment hits over 21%, a record.
- Its fast-shrinking workforce is 10 years older than neighboring countries.
*Still, China keeps reporting outrageous GDP numbers.* Lol
Where does the growth come from?

[@LivingWithGout]

They’re pulling numbers out of their own arse.

[@dsamh]

Maybe it's not the property....

[@araara4746]

US needs to make pedestrian walkable again.
😅😅😅

[@lokesh303101]

When someone got the Percapita then Property is Desirable - Deflation!

[@shoopddawhooped]

Not residential

[@lostgleammedia]

All those Chinese buildings are falling apart, crumbling.. they had one chance to build the future and they messed it up

[@frankxu2490]

What a Joke !

[@YSKWatch]

china will keep the property affordable and not speculation subject.

[@lastChang]

Chinese property desirable again? Never!
It's too little, too late.

[@cuongvitruong]

Each building need to have a different luxury exterior look.