real estate market in china-
location: 4th maybe18th tier city.
Q: what if I pay in full cash?
Agent: doesn't help with getting a good bargain.
Q: why?
A: sellers will get their money as quick as 3 days after buyer's mortgage applied, don't matter whichever way you pay with.
Q: I see, banks are having trouble selling loans.
A: and banks will let you wait for months to get a grant to pay off early.
Q: wtf?
the whole country is papering over what is a rotten market.
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not the whole country precisely, otherwise the economy has crashed af
Local governments too probably. Unfortunately I think it’s just a matter of time before it all crashes.
