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[quote=Anonymous]China's capitalism model is out of control.  China’s housing market collapse is one of those major red flags of failure. Property sales have fallen to barely half their 2021 peak, mortgage defaults have surged, and hundreds of thousands of foreclosed apartments are now unsellable, even in major cities. Despite more than 500 government rescue policies, prices across 70 major cities continue to fall, and analysts have warned their real estate downturn could last into the 2030s.

A second major failure cascading out of that is the breakdown of Beijing’s plan to convert unsold housing into affordable units. The central bank created special lending facilities to help state firms buy excess inventory, but take‑up has been extremely limited. Most unsold homes are in lower‑tier cities where demand is weak, while the need for affordable housing is concentrated in top‑tier cities, a structural mismatch Beijing has been unable to fix.

Beyond real estate, China’s broader economy is showing deep structural strain: fixed‑asset investment has slipped into negative territory, and Beijing is shifting focus away from property entirely because it sees no quick path to stabilization. Analysts note that despite official optimism, there are “few signs of a turnaround” and the slump is still dragging down national growth. [/quote]

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