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With over 600k homeless Americans, couch surfing and sleeping outside tonight, this is important to understand (lemmy.ml)

submitted 6 days ago by yogthos@lemmy.ml to c/socialism@lemmy.ml

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[–] Burghler@sh.itjust.works 2 points 6 days ago (8 children)

Isn't the housing situation significantly worse in China? You put entire down payments and then pay the mortgage for the house to still yet be built. And last year so many defaults happened that no houses were being built and no one was being returned their money when they wanted out.

The grass is not greener on their side. It's still fucked, just a different fucked.

[–] yogthos@lemmy.ml 21 points 6 days ago (5 children)

90% of families in China own their home, with 80% of these homes are owned outright. https://www.forbes.com/sites/wadeshepard/2016/03/30/how-people-in-china-afford-their-outrageously-expensive-homes

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