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I don't think that the Chinese are forced to buy property because of the perceived shakiness of the stock market. Rather it's a cultural norm that's embedded it

I don't think that the Chinese are forced to buy property because of the perceived shakiness of the stock market. Rather it's a cultural norm that's embedded itself in their psyche. Also, I disagree that using houses as your store of wealth to fund healthcare is a sane policy. People should be paid for work.

throwaway4aday 3y ago
They're not compelled to but they don't want to invest in stocks due to bad experiences in the past. Now there is a bad experience with investing in real estate. You have to store wealth somewhere otherwise you'll constantly be losing wealth. Ideally, one could simply bank their savings without it losing value while also investing in a variety of other assets rather than putting everything into stocks or real estate but that's not the world we live in at the moment. If you believe people should be paid for their work then you should also believe that the money they are paid for their work should not be bled away from them.