there is deflation in china right now. Why would you buy a house today if the money you have today would buy a bigger house tomorrow? As a result, nobody can s

there is deflation in china right now. Why would you buy a house today if the money you have today would buy a bigger house tomorrow? As a result, nobody can sell. The only way to move any inventory is to dramatically slash the price. Everyone is doing this, so you gotta do it even more than the next guy (or just hold on to the property but what if you need the money/can't maintain the property?). I've heard of 2mn rmby apartments in beijing going for 100k