Their income to house pricing is insane though. It doesn’t matter if the houses are cheaper if the income is way lower as well.
https://www.numbeo.com/property-investment/rankings_by_country.jsp
This is also why the oft-suggested “just move to a cheaper area” misses it as well. Great, houses are 1/4 the price in rural Nebraska. And there’s no jobs.
Yeah that’s generally just something that helps when it comes to retirement. Doesn’t work for working years
Partly why their authoritarian regime is so successful. People don’t mind it so long as they’re prospering and enjoying a good quality of life.
I pulled a site to compare housing to income, their housing is about 4x the cost of housing in the United States. If we are struggling for housing right now, and they are 4x as bad… id say they aren’t prospering when it comes to the numbers shown in the article. They are just ignoring how much they make. What this really says is if an American moved to China, their money could buy a much nicer place. (But they better have it paid off, because they won’t find a job that can pay for it after)
While it’s true that situation in China is bad (especially to internal cross district migrants and youth), I want to share this little gem:
Poorest 50% of Chinese has more wealth* than poorest 50% of USians.
(Of course in purchase power parity, so it measures the shit they can buy locally. But basically it means if an USian can buy 100 hamburgers, a Chinese can buy 130)
74% cheaper
What a strange way to say 26% of the price. Rent prices in China are 26% of rent prices in the U.S.