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70
freak80
2012 Jun 10, 1:29pm
freak80
2012 Jun 10, 1:29pm
The cultural revolution wiped out all the traditional values and the semi-capitalism corrupted the citizens into money hungry status climbers who care nothing about morals.
The same thing happened here in the late 1960's and 70's...to a lesser degree.
71
Serpentor
2012 Jun 10, 4:15pm
Serpentor
2012 Jun 10, 4:15pm
Btw. As a non scientific observation, I hear a lot more taiwanes accents in cupertino then Cantonese or mainland mandarin.
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When people say "its part of the Chinese Culture" to buy up overpriced houses (whether its in China or Cupertino) my internal BS flag starts waving.
when you look back in the history of China, there are no cases where property were purchased to sit and not generate income. No cases when luxury real estate are bought by ordinary families and are sitting idle because nobody can afford the rent.
20years ago, chinese were struggling to keep their families fed, 50 years ago real estate were the last thing on people's mind with wars etc, even if you look back 100, 500, or 1000 years ago, I can't think of a case where chines people buy up luxury property and let them sit around.
Are there any time in history of ANY culture that ENTIRE cities are built then sat empty?
This can not end well.
buying overpriced real estate with shadow financing is as part of the Chinese culture as HELOC Neg AM NINJA Loans is part of the American culture.
#housing