Luxury homes and cars aren't selling, upscale restaurants are closing in large numbers

Рет қаралды 44,328

Күн бұрын

#chinainsights
A restaurant with an investment of 8 million yuan closed down. The owner sold his home and car to invest in it. Now, he broke down in tears at the tragic loss. Have you noticed that all of a sudden, luxury cars aren't selling in China? Some models that used to require an extra charge and wait time are no longer in demand, and even Porsches like this one have seen a lot of discounts
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Пікірлер: 172

@k9killer221 7 ай бұрын

What's the point in buying a house in China when you intend to get the hell out of there ASAP?

@RUHappyATM 7 ай бұрын

I agree. You cannot take property with you when the SHTF.

@sleepinglaffey3886 7 ай бұрын

Patriotism of Winnie PorkPooh - With stimulus and measures, China's debt will be at 400% to 500% of its GDP in the next decade, according to Reuters. -Chinese 🇨🇳 property Ponzi sector, which accounts for 30% of GDP, is crashing -Exports and imports, accounting for 37% GDP, are down. -Foreign investment is falling over 90% compared to it's peak in 2018. -Foreign visitors are down 96% compared to the pre-pandemic level in 2019. -Consumer prices are experiencing hyperstagdeflation. -Youth unemployment hits over 21% (in reality 50%+ after eliminating faked numbers), a record. -It's fast shrinking workforce is 10 years old than neighboring countries. - During the years 1990-2021, the US printed 6.5 time more money while China printed 147 times. - It has printed more money than the US and Japan combined, while it's economy is only half of them. - Current Chinese debt-to-gdp is already highest in the world, at 300%, according to Bloomberg. Mengze daughter: lives in US brother: australian green card daughter in law: british green card sister: canadian citizen brother in law: canadian citizen second sister: australian green card second brother in law: australian green card WOW SO GOOD Organ Leeks #sloprosperity #theskydontlie

@k9killer221 7 ай бұрын

@@sleepinglaffey3886 That's a very good point by point breakdown of the extent of the problem (disaster?). Most people are not even aware that China's debt to GDP ratio is 300% - I found that out myself just 2 weeks ago. I was shocked. People assume because China is such a massive exporter that everything is hunky dory, but it's actually terrible.

@sleepinglaffey3886 7 ай бұрын

@k9killer221 Lvl 1 peasant leek/Little pink crook Lvl 10 Gaokao corrupt official Lvl 99 senior naked official Lvl 1000 Naked official runaway in a vancouver or sydney condo with 10 mistresses and boasting offspring that's how party works also there's vancouver little pinks in the top comments

@SansaStarkw 7 ай бұрын

@@k9killer221 In addition, household debt - mostly mortgages - is 61 per cent of GDP. Altogether, China's gross national debt is over 300 percent of GDP. A high debt burden constrains the government's fiscal firepower, preventing it from unleashing bolder stimulus and weakening its effectiveness when implementing support measures.Jan 25, 2024

@mrkickback2010 7 ай бұрын

Savvy rich chinese sold long ago and invested in real estate outside of China such as Singapore

@MK_ULTRA420 7 ай бұрын

Yeah, and they're going to have to move again if they haven't already, to dodge the CCP.

@HKim0072 7 ай бұрын

Richest man in HK started selling in mid-2010s and the mainland Chinese were throwing insults at him.

@k9killer221 7 ай бұрын

I agree. The motivations to leave China due to the stupid CCP policies and economic indicators have been around for at least 5 years. The smart-heads are already gone.

@sleepinglaffey3886 7 ай бұрын

@idanceforpennies281 7 ай бұрын

Yeah, this has been a long time coming and the smart heads got out from about 7 years ago when it became obvious Xi Jing Ping is a tyrannical nutter.

@kateryan9988 7 ай бұрын

Good. Let's all further help the Chinese out by reducing any Made-in-China purchases whenever humanly possible.

@ILOVEBACONBOY2018 7 ай бұрын

I have an x through a Chinese flag on my car

@SL420- 7 ай бұрын

@@ILOVEBACONBOY2018 I guess you could explain the context but people probably just think you're a racist.

@billfrehe6620 7 ай бұрын

Always check where your purchases are made and put in the effort to avoid "Made in China" whenever possible!

@jules263 7 ай бұрын

Volvo is solely owned and made in China by Geely China and is not a European brand and hasn’t been for years.

@josiahjacinto4156 7 ай бұрын

Arrogant young masters are now getting humbled.

@aceuxroo Ай бұрын

its the volvo cars that's now china owned. volvo group (the ones that makes trucks and heavy duty vehicles) has separated

@FraudGuruExpert. 7 ай бұрын

TOFU dreg checked? Chinese people invest in their homes? CCP Fs their own people? CCP just didnt care at all.

@shundi4264 7 ай бұрын

Market correction is good. Porsches are overpriced anyway.

@sleepinglaffey3886 7 ай бұрын

@pleasantcrew 7 ай бұрын

Doesn't China also own a substantial amount of America's debt?

@shundi4264 7 ай бұрын

@@sleepinglaffey3886 US debt: 70 trillion. China debt: 47 trillion. Less per capita. Economy growth is pretty impressive.

@Anonymous-9904 7 ай бұрын

chinese can't afford porches, hahaha 🤣

@Anonymous-9904 7 ай бұрын

chinese can't afford porches hahaha

@2packrm781 7 ай бұрын

0:12 poor guy☹ Those are some very nice looking houses, but it all looks like facade, over priced value, & questionable material🤔 3:50 Chairman Xi wanted to clamp down on "wealth showing off". 4:33 & the Gov doesn't want the Ppl to own their homes. 5:40 what I don't get is, why is the CCP also trying to show off something when they should be focusing on "modesty + traditionalism" & some high tech appeal instead of full-on high tech & showing off wealth status when China is still a developing country? 7:55 so part of the issue is economy, then inflation, fair banking standards with doors to help ppl get out of debt more fairly, how taxes are done, & how reliable is your at home market for curving unpredictable financial storms🤔? Which is part of the answer & partially my opinion🤔... 12:52 is it also fair to say that China is in its very own form of a "Great Depression"🤔🤨🤔?? Edit; 13:41 what an interesting analysis & recording on spending behavior & choices behind them, too.

@tiefblau2780 7 ай бұрын

Aww Sad isnt it? Well? Would you take his shoe? I bet he would be happy to know you are willing ... have you seen what happened to Tbet and Ughur or even HK? XDXDXDXDXD They sought to it, oh yes ask PatrickWei your friend.

@RFA1988 7 ай бұрын

A penthouse that big in my country would cost you $2-3M usd.. $276k thats a steal! 😂

@carkawalakhatulistiwa 7 ай бұрын

China is overcapacity of home builders With 36 million houses empty without buyers

@CanasDark 7 ай бұрын

The hidden cost is that you have to live in China to actually use it.

@CovenantAgentLazarus 7 ай бұрын

These garbage ass buildings collapse very easily.

@Arthur-jg4ji 7 ай бұрын

the china version will last ten years at best

@CovenantAgentLazarus 7 ай бұрын

@@Arthur-jg4ji more like 4.

@HKim0072 7 ай бұрын

People might scoff at this and brush it off. But especially the restaurants, those are jobs attached to it. They run low margins and generally run a 30-30-30 rule. 30% overhead, 30% food, 30% labor (not exact). Someone is out of a job on each part of the equation when they close down.

@TheTektronik 7 ай бұрын

People are spending less and less.

@michaelturner4457 7 ай бұрын

So there's less people buying Porsches, oh dear, how sad, nevermind.

@dongshengdi773 7 ай бұрын

@@michaelturner4457 such a pity . Oops . No need to pity.

@Anonymous-9904 7 ай бұрын

Hahaha because chinese can't afford stuff so funny😂

@user-jy2ci5ox9v 7 ай бұрын

This relatively dim Ashley Wallace from the Bank of America was recently at an event posturing about how expat spending by the Chinese was doing well when questioned about how Luxury brands were downplaying the risk on China. I get the feeling the consultancies are trying to spin this story that all is well in China for the luxury market and that the spending by Chinese has simply shifted overseas for brands. It hasn't the majority of the market for Chinese consumption is weak! Well judging by the sales volume of those Luxury cars she hasn't got a clue what she is talking about.

@MK_ULTRA420 7 ай бұрын

I love Bank Of America's dimwits! They gave me a free $30k because they didn't do their due diligence!

@RUHappyATM 7 ай бұрын

Why pay millions to live 100m up when you can live beyond the views of your neighbours?

@GianmarioScotti 7 ай бұрын

It's confusing to follow thosevalues, because I am never sure what currency is being used.

@sekanstar3243 7 ай бұрын

The thing is even if it's luxury house, it's made in China, tofu build, I wouldn't dare to live in it 🤣😂

@sleepinglaffey3886 7 ай бұрын

Lvl 1 peasant leek/Little pink crook Lvl 10 Gaokao corrupt official Lvl 99 senior naked official Lvl 1000 Naked official runaway in a vancouver or sydney condo with 10 mistresses and boasting offspring that's how party works

@rpgbb 7 ай бұрын

Little sympathy for these people. This what happens when people give away their rights to an authoritarian regime

@danielmartin7838 7 ай бұрын

They’ve never ever known freedom in china. Taiwan is as close as it’s gotten and not without trials and tribulations

@silverbirch-youtube 7 ай бұрын

Since 1913, the people of the west have been systematically giving away their rights to an international cartel of central bankers, who have thoroughly entrenched their grip on power through world wars, money printing and inflation, fake pandemics and national policies designed to asset strip the common man. The tyrants of the west have slicker marketing and PR than old Winnie the Pooh, but they're every bit as greedy and dangerous - as I fear we shall all soon see.

@CovenantAgentLazarus 7 ай бұрын

@xixi560no.

@brainjingo7491 3 ай бұрын

America is authoritarian too. Do you think America is a Democracy? Lol lmao

@lance8080 7 ай бұрын

Need to be out farming rice not buying luxury goods 🇨🇳

@MrRezillo 7 ай бұрын

It's important to remember that these for-sale luxury apartments require tremendous upkeep in cleaning and utility bills. Also, I hope the few filthy rich Chinese who might buy these properties have to good sense to have them inspected for "tofu dregs" construction, which is rampant in CCP China.

@4k8t 7 ай бұрын

Let us also not forget that the Chinese "mortgage" system is recourse form which means if the property does not bring enough to pay off the principal balance (plus among other things such as penalties and fees) the borrower remains responsible for paying off the balance. In uncertain times, who would take on debt like that? Those already ensnared in the borrowing can only try to get someone else to relieve them of the debt by taking it over or paying enough to pay it off. Otherwise, they just have to try and survive.

@cris1735 7 ай бұрын

At least it's getting cheaper in China. Where I live, nobody can afford houses and condominiums but the realtors keep increasing the prices.

@alapaticornell4391 7 ай бұрын

U have to save money for food. CCP look what u did. Karma + Mandate of Heaven.

@junkscience6397 7 ай бұрын

I'm sorry, but even the "richest" housing in China all look cheap, tasteless and tacky. You couldn't PAY me to live in that trashy "luxury".

@jmshwood2801 7 ай бұрын

Strongly agree!

@kevinbarry71 7 ай бұрын

Volvo is not a European brand and has not been for decades. It is quite Chinese

@Lavithz 7 ай бұрын

so they were an American car when ford owned them?

@kevinbarry71 7 ай бұрын

You catch on fast

@Lavithz 7 ай бұрын

@@kevinbarry71 ? No one out of 1000s of ppl would call it American.

@kevinbarry71 7 ай бұрын

@@Lavithz it's not. It's Chinese. I thought we covered that

@Lavithz 7 ай бұрын

@@kevinbarry71 are you a bot? Or just dropped on your head

@piotrmajewski5978 7 ай бұрын

What's the point having so many houses in China if you own them for 75 years? If so, most of them looks to be for speculation.

@user-zo6xg8bx4l 7 ай бұрын

Everything built in CCP China is TOFU. It doesn't matter how expensive it is.

@bert8373 7 ай бұрын

Yep,bridges,roads,apartments,condos,etc all shoddy

@Pencil-o1p 5 ай бұрын

Yeah that’s why they’re able to drop their prices so much.

@profitpurpose 7 ай бұрын

the bats have come home

@danielguo1033 7 ай бұрын

I think it’s too Exaggerate! Plenty rich people in China, they also transferred wealth to overseas.

@HKim0072 7 ай бұрын

That’s why the NYC market is always attractive. You have a mix of foreign and domestic buyers. lol, maybe they can get Russia and Middle East buyers.

@cenationofjnu 7 ай бұрын

People who could buy all that are wither leaving China or have already left China.

@metasamsara 7 ай бұрын

I work at a restaurant in France and it is half dead too. Since covid it had been dwindling, purchasing power has plummeted with the USA dumping the inflation of their 3T USD onto foreign markets. don't worry China, the CCCP and BRICS are decoupling from USD hegemony for a more stable future. Give it a couple years...

@metasamsara 7 ай бұрын

I was just looking at investing in a property in China in case I would want to go live there and start a permaculture. Apparently foreigners can't even buy a property until they have lived there 12 months, changing that law would certainly help the market recover for China... If I could find a nice countryside home near a populated city with some land and modern amenities for less than 50k USD I would most definitely consider moving to China! This is how bad the housing market is here in Europe, lol. Better to have a crashing market people can afford than a profitable market that keeps the poor homeless.

@sofjanmustopoh7232 7 ай бұрын

$4 for a cup of coffee in China is insane 🤣

@DavidGBlair 7 ай бұрын

The house prices are just wrong. you can’t get an apartment in Shanghai for anything like 200,000 rmb

@rebeltheharem7028 7 ай бұрын

Man, if China didn't have such a scary government and the construction so untrustworthy, I would buy a house to live there, so cheap. Too bad you can't really "own" land in China, its only at 99 year lease, so you can't even pass it onto your descendants.

@alexyap7323 6 ай бұрын

China spent so much on military with practically no economic return! Madness!

@sinapinvicky4415 7 ай бұрын

Their make money with foreign company, their don't want foreigner anymore now their crying because business go down ! Where is their brains ???

@BigDiesel1989 7 ай бұрын

Keith Lee might need to start a tour.

@nterry894100 7 ай бұрын

You have confused the square metre price with the apartment price. Prices are coming down but only by about 15%. They may fall a bit further but nothing like the silly numbers you cite.

@acheable 7 ай бұрын

Classic case of high levels of debts or loans, over speculative property market and an unregulated property developers who abused State gov supports.

@jallen1227 7 ай бұрын

You mean Volvo owned by Geely ?

@The_Smirk 7 ай бұрын

Rich chinese people are in california and nyc buying mansions, farms and dorms.

@pzakkly3976 7 ай бұрын

When money means more then life to some of these people how sad to devote your whole existence to $$$

@DD-ds7ui 7 ай бұрын

this is just so sad :(

@mochipii 7 ай бұрын

Ccp era chinese are so pervormative and distrustfull it's hard to feel sorry for them. Condemning their government for corruption when in reality, they would do the exact same thing if put in a position of power.

@HKim0072 7 ай бұрын

This is the easiest market to get real data. All the western companies have to report financials on their earnings report.

@RatTerminator 7 ай бұрын

GOOD 🇺🇲

@giacomopetrolo9485 7 ай бұрын

At minute 9:46 is a totally wrong and untrue information. This restaurant OSTERIA is not in Shanghai. It is in Tianjin and it is not going to close.

@michaelturner4457 7 ай бұрын

The AI is generating fiction yet again.

@HKim0072 7 ай бұрын

I have no direct knowledge, but you do realize that osteria is a common Italian word? Osteria Francescana is one of the most famous restaurants in the world (located in Italy).

@michaelturner4457 7 ай бұрын

Are you sure about that? Because there's quite a few restaurants of that name in various cities in China, including Shanghai.

@giacomopetrolo9485 7 ай бұрын

@@michaelturner4457 well, the video that is shown is about the restaurant in Tianjin, I am pretty sure about it because is owned by a friend of mine. Whilst the voice description is about a restaurant that it is now closed in Shanghai

@thisismonitor4099 7 ай бұрын

OKay one thing is that you are confusing thousands with millions. that Shanghai apartment is 2.76 million not 276k .... prices would have to have gone down 95% from the peak for that to be the case and it just isn't . Prices have collapsed but ntot to that extent

@patrickjvanhuffel 7 ай бұрын

Painfully gaudy

@Agungsuprihatin 7 ай бұрын

Kalau nantinya harganya lebih murah, bukannya itu bagus 😅.

@tyasspage 5 ай бұрын

I got $500 on the offer. If not sold

@TheVentrikel 7 ай бұрын

Chinese : people broke USA : cities broke 😂😂🤣🤣🤣🤣

@3xfelix 6 ай бұрын

kzbin.info/www/bejne/nYTLpnikbJ2GY5o oh no this is the USA?

@Jaysqualityparts 7 ай бұрын

Location location location 😂. Voting with their feet.

@kehcat1 7 ай бұрын

I thought there were a lot of rich people in China. They dress really well and seem so rich.

@jules263 7 ай бұрын

They all still wear fake and counterfeit designer clothes 😂

@enigma9273 7 ай бұрын

Aww poore lil pinks gunna half to eat and drive normal cars like the normies

@nolonger9112 7 ай бұрын

What do you expect? Most of those luxury goods are in the list of those things real rich never gonna to use too much. They in the list of poor dream to be rich want to use alot. We saw some less know billionaires still use the car they in love with for decades some even drive a lawn mower to move around than those new luxury car.

@worldtravel9967 6 ай бұрын

Maybe dont support Russia and would not be like this

@kungdu 7 ай бұрын

If you got cash it's the best time to buy lol.

@jephhirata3744 7 ай бұрын

If that's what you feel about loss, then, that's Philippines feel the hurt when you take their territory and harass them!

@PsyrenXY 7 ай бұрын

10:50 LOL nice pun

@THE16THPHANTOM 7 ай бұрын

too bad they are hostile to foreigners, i would want to buy that 260K luxury home. where im from even finding the most basic b house is now going 220k to 240k adding another 30k to even 60k to that one looks like a steal. in few years there i no way someone in my generation or younger will be able to buy a house even with a two income family.