This means that real estate developers are saying “I can’t sell this house for $250K but I can sell it for $300K and give you a 1Kg ingot worth $50K” to get around the overvaluing of the house, because people won’t buy the house at the prices Chinese government insists they should be sold.
How so? This looks like unscrupulous businesses finding loopholes in the regulations and the government being slow to close them. Same thing happens in the west.
This means that real estate developers are saying “I can’t sell this house for $250K but I can sell it for $300K and give you a 1Kg ingot worth $50K” to get around the overvaluing of the house, because people won’t buy the house at the prices Chinese government insists they should be sold.
Oh my… what a shit show. Thanks for explaining friend.
so communism is when unbearable housing markets are government mandated instead. What a world to live in.
Well, if we’re being honest, it’s capitalism with communism branding. Otherwise you wouldn’t be able to buy and sell the house in the first place.
How so? This looks like unscrupulous businesses finding loopholes in the regulations and the government being slow to close them. Same thing happens in the west.