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the high savings rate in China is a myth from 2004. In 2017, people poured all their savings into their kids/other relatives real estate purchases (which itsel
by outwebyou 9y ago
the high savings rate in China is a myth from 2004. In 2017, people poured all their savings into their kids/other relatives real estate purchases (which itself is a bubble). And the young people have credit card debts and no savings.
- nooron 9y agoReal estate investments are a store of wealth, ie a savings product. Real estate investments are one of the few vehicles to store wealth other than relatively basic accounts that are available to a broad swath of consumers.
- paxpelus 9y agoYes, tell that to Greek citizens that were buying houses for 300k and now their value is less than 100k for the same house. Real estate is not a store of wealth, this has been proven many times in the past in several countries. I agree though that the prices on real estate are more stable than any cryptocurrency.