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The average Chinese person needs to save 100% of after-tax income for >30 years to have the down-payment for the average Chinese house. And, then, the interest
by onlyrealcuzzo 4y ago
The average Chinese person needs to save 100% of after-tax income for >30 years to have the down-payment for the average Chinese house. And, then, the interest payment alone would still be higher than the person's after-tax income.
Either China has to indefinitely grow at 10%+ per year (it's becoming obvious that's not going to happen), or the Yuan or Chinese home prices (~50% of Chinese wealth) are massively overvalued.