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by dirck-norman
35 days ago
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Nope they didn’t. They refuse to let citizens cancel the mortgages even though developers haven’t delivered condos for years and they haven’t bailed out the little folk. Moreover China’s govt was the cause of this by setting gdp growth quotas to get promoted, see all my other comments regarding this. You’re just repeating propaganda and interestingly the other commenter responding to me has said the exact opposite, but also has said that China’s response was “morally superior” |
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For Building projects that were canceled the little people got full refunds
For Building projects that were resumed with the govt footing the money for their completion. People who bought apartments did not have their mortages canceled, they were forced to pay their mortages and will be receiving their apartments when completed.
So yes the little people did get bailed out. The government is footing to continue the housing projects while maintaining the terms of the mortages.
In the US, we saw all the people who could no longer pay their mortages because of interest rates skyrocketing lose everything.
We saw Federal marshalls marching into homes, and throwing crying people out, we saw crying people who have paid hundreds of thousands being thrown out into the street. In the US real estate crash, if you took a ninja loan and the housing crash happened, the banks suddenly demanded higher interest rates and you couldn't pay your house was foreclosed and all equity wiped.
These are all confirmed facts
In the US many little people lost their equity and were thrown out of their homes, many lost hundreds of thousands of dollars as they defaulted on loans and had their property siezed.
In China none of the little people lost anything
The buildings that were canceled the little people got full refunds The buildings that were continued thanks to cash infusions by the government the little people will get their homes when it is finished.
The only person spreading propaganda is you.
This statement for example is a complete disinformation because you did not acknowledge that the chinese govt gave cash infusions to these stalled projects, and mortage payers will get their apartments
>Nope they didn’t. They refuse to let citizens cancel the mortgages even though developers haven’t delivered condos for years and they haven’t bailed out the little folk.