Yes, this can last forever.
State-owned company = Communism
Keynesian stimulus is the technique, building things with no demand. On the books assets.
It works on greater fool theory. Pet rock economics.
If you don’t trust the stock market because you know it’s rigged….
And you don’t trust the banks because you know it’s rigged….
why trust the houses, supported by both?
They’re crooks trying to rip off one another first.
New Money deserves to lose it all.
Imagine being so shallow you claim you’ll only reward the men fool enough to get into the most mortgage debt…. in 2005. Housing Idiocracy.
China is going to bankrupt the London and New York property markets.
We shouldn’t have allowed foreigners to purchase. The Russians are among the worst.
They have no right to be here, build ugly culture-less glass (safety hazard) buildings and bribe officials to ruin the “protected” skyline. And why is there social housing in London? At all? It isn’t as if they need to be there for work, is it?
Communists can’t count. China is playing Russian roulette with living conditions.
Then there’s what will happen since it accounts for almost all of their “wealth”.
More people than ever in an urban space.
What happens to every Commie country EVENTUALLY.
I have to keep pointing this out.
Learn “please give me food” in Mandarin.
When they overthrow the government eventually, the bigger balloon will pop.
They’ll find a series of IOUs at Communist HQ. Can you say bank run?
I hope you can put a down payment on a trust fund with selfies.