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They are doing mortgage boycotts in China as a form of collective action. Very interesting to see how that plays out. [1] https://www.reuters.com/world/china/c

• gonzo41 3y ago
  In theory, being a socialist utopia, everyone should just get their house because of market failure which is outside of their control. (which is kind of what I think should have happened during the GFC, bank failure in your favour so to speak) But lets see how the utopia holds up to reality. Yay, we're living in interesting times.
  • throwawaymaths 3y ago
    In places those homes don't exist(https://www.reuters.com/world/china/unfinished-evergrande-apartments-central-china-buyers-seek-answers-2021-09-17/ https://www.reuters.com/world/china/unfinished-evergrande-ap...), or are of shoddy construction. Some have been torn down (https://www.cnn.com/2022/01/04/investing/evergrande-stock-gain-resume-trading-intl-hnk/index.html https://www.cnn.com/2022/01/04/investing/evergrande-stock-ga...). For many of those owners the house is not intended to be lived in but rather an investment vehicle. Somewhere i read that a majority of home owning families (sometimes extended families) in China have more than one home -- don't know if that's true.