It's interesting. Did you see my last tweet at you Sir?
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It's not a secret in China amongst people who talk about this, but it is a secret in the West. Also, I think many Chinese are hesitant to discuss these matters as it may cause China and the Chinese people to lose face. You are different, so I asked why you are.
Let me try to explain why Chinese people love buying real estate and you can tell me if you think I'm right: Domestic Chinese real estate: 1. Many domestic Chinese have never seen a real estate bear market, ever, therefore they think prices will rise forever. 1/n
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2. In US we have a couple of different investment options: stocks, real estate, corporate debt, treasuries. Whereas in China, because of corporate and gov't scandals and recent hardship, non-real estate options are seen as very untrustworthy. Also, Chinese stocks dropped! 2/n
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3. Culturally, Chinese LOVE real estate. Even in formerly communist China the concept of the wealthy landowner prevails, especially in a country that is 人山人海. 4. Finally, Chinese people REALLY LOVE to gamble and speculate, much more than other countries. 3/n
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