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@@Cobbido Speak for yourself. I have lived in both countries, have you? Every morning I wake up grateful that I never ever have to go back to China ever again. Never learned to appreciate the US more than when I lived in China. All Americans should be required to live there for a year.
It is not their property to sell. It belongs to the citizens of the United States. Period. The so called Government is our employee who is paid to serve on our behalf, not to serve at their own whim to grab fake money from outside sources under the pretense that they own the land.
It's crazy to think on how different level China operates; in Denmark I worked on restoring wooden floors that were 150+ years old, making them look like new, and most of them still gonna last probably 100 years or more with few more restorations. In China, entire buildings have a life of 50 years. China operates like a crop field, plow the field and just plant new crops every year, leaving no trace of history behind. Really sad to think how much history will be just 'plowed' to keep making new tofu buildings instead of something that will last generations.
The contrast with Europe - and the similarity to Canada - is staggering. In Europe, one can find buildings that are many centuries old, like Notre Dame Cathedral in Paris, and even older ones in Rome and other parts of southern Europe. In Canada, anything more than 50 years old tends to be viewed as something old and in need of replacement with something new, even if it is in good shape as many older buildings are.
@@rocketsteelwow. Yeah gee. Why would we want a Globe Theater or system that last millenia and teach us or own history... my God the reason the world is collapsing. IS BECAUSE PPL LIKE YOU CAN'T AIRFIELD EVEN HISTORY FROM JUST 50YRS AGO
I know what you mean but not sure I completely agree with you. Maybe we could create a law that made buying land more expensive the more you own based on population size.
1.3 billion acres privately owned in 48 states. That’s about, 4 acres per person today. So after your first 4 acres you have to pay a one time tax of 10%, for the next four acres, then 20% on the following 4, then 30%, then 40%, then 50%, and so on until you get to 100%, and you can cap it there. Give people with less than some arbitrary number of say 400 acres or less a grandfathered-in status, and impose the tax going forward with a lifetime in which to pay the tax and it have no interest. And that tax can be a lein on the property. That would punish the “horders”.
@@samuelhelderman Private own is not the same as own for living on that land. I suppose a lot of farmers also own land used for food production. Which makes your idea something for make all people in the usa very hungry.....because farmers cannot keep paying those taxes and make a living from farming. No farmers is the same as no food.
Immigration Ponzi scheme is more to blame which does include those elements but also includes a million fake students from India that are just here to work
As a Chinese, I can confirm all land and resources contained in the land belong to the state, including but not limited to oil, minerals etc, According to Article 6 of the Land Administration Law of the People's Republic of China, land in urban areas belongs to the whole people, that is, the state, and land in rural areas and urban suburbs belongs to collective ownership.
As a Chinese person how does this make you feel? Is it a policy you agree with (or to ask another way do you agree with this communist approach to universal state ownership of land) Interested to hear your thoughts as a citizen of China but I appreciate you may not be in a position to elaborate.
@@RyanMacWee Why would the youth not want to own anything? That's a nonsense what you say. The WEF wants to take everything from you... and yes, even your life. Their stated aim is to reduce population to 500 million worldwide.
It’s the world economy. Many corporate heads and world leaders are apparently attempting to implement something similar. It’s a manifestation of their fantasy.
Ive had a young Chinese doctor buy an apartment, above me a few months ago. He seems to be enjoying life in Australia, all I ever hear is him playing his guitars and he's really great at it. I personally think he enjoys being able to work hard and earn his peace and happiness 😊 as most of us also do.
Wages in China are less. There is overpopulation and the government cannot provide jobs for all. I earn ten times in the US compared to what I earned in China.
Really? You do know that to get out of China he has to be true Committee to the bone? He is not there freely. China will tell him what to do and when. Don't be fooled.
I have been to china, and can attest that all of the construction I've seen there will absolutely not last in a usable/habitable state for 70 years, and unlikely to last for 50 years. Buildings that are only 20 years old look like crap. Concrete that's only a few years old visibly crumbles. Plus, commonly held features are not maintained by anyone, as no-one cares about community property. Courtyards, sidewalks, restrooms, squares, etc are dirty, unkempt, bedraggled, and breaking. I will never return to China. It's a horrible place.
@@williamblaker2628 Besides the U Tube videos the west doesn’t say about how the majority people live in China showing- how oppressed people’s lives are!The west doesn’t want to give us the real details because in the last 25 years billionaires have popped up (less in China- I am presuming but especially in the west and other parts of the world due to cheap Labour making useless plastic items galore, by those who have to do it). Interestingly it would be interesting to really know what life is really like for majority of the Chinese- definitely not the billionaires and Communist officials all over the country. They are in cahoots with western’ got rich quick western billionaires’. No wander Globalisation is moving faster everyday!
Its halirious how brainwashed you people are, Japan and South Korea are also terrible places disguised like they are so good. Also when did you goto China 40 years ago? I was there twice this year, cleaner than America and Canada. Sidewalks cleaner,transit cleaner.
The party line from most economists is what the responses are. Economics is apparently much better for documenting economic trends trends than accurately predicting them.
had a tech guy in from china setting up some machinery we bought. got to talking and it came up that i own a house. the guy asked - for how long? thought it was a little strange. i now know why he asked .
I have put my entire life time into turning a cow pasture into a fruit and nut farm. A pecan tree takes 12 years to get a crop, but can live 200 years, so if I am 25 years old, I get a crop when I'm 40 and maybe 30 years if I live to be 70. Then, the most productive years, my son does not inherit my land and continue to reap the rewards of all my labor? Who would bother?
Someone who looks beyond their own primal familial instincts? It may be hard for us to understand, but the sustained success of China over the long term seems to be creating some bitter and petty reaction in our self centered cultures.
@@abies2000 China's only success has been to use our own short sighted profit motive to sell us products that we could have made ourselves. Even that is coming to an end, and it is obviously causing the collapse of their economy.
@@abies2000 lol as if you are dense enough to believe most people in China actually want that, or would chose that option if the other was available. You can only achieve something like that through force.
@simonbrosseau1783 of course. The Dictatorship of the Proletariat is a concept thoroughly acknowledged by Marx and most Communist movements in history. As is the horror of primitive acquisition. These things can not be denied. But we can not live in denial as our capitalist democracies fall apart.
it is very depressing to see the fotage of apartments rotting away. If i grew up in an area like that it would suck all life energy out of me. Im so sorry for people who grows up in china
Just also want to point out, that if you own your property, you are probably more likely to take care of it. There is a reason why soo many places in China look dilapidated even though a building may only be a couple years old. why pay money to maintain something that is not yours? That is the mindset for many. Shout out to the regular Chinese folks that do care for public/shared infrastructure.
China has a rebuilding culture, not a maintenance culture. Japan was the same until the last 15 or so years. Western Europe was that way until the 1600s or so.
@@toomanymarys7355 LMAO Japan still tears down older buildings for new development mainly to keep up with constantly updated earthquake safety measures.
Sadly this is why communism may sound good as theory but in fact it doesn’t work! Majority of people are insecure in their lives so they are greedy mostly -because they can’t do without..even when it is possible! Communist govts have never had to answer to the public just to the Party!
@toomanymarys7355 you're coping. At least you are optimistic. It's a huge investment to build things. It also cost money demolish, as well as destroying any materials that could not be recycled. Things should be teared down and replaced/upgraded/modernized in terms of safety and the benefit it provides to the community that lives there. There is a reason why people admire, learn, and try to preserve history. Some Chinese folks nowadays can't wrap their head around this concept after the great leap forward and the cultural revolution, where Mao ordered chinese citizens to destroy their own books, artifacts, temples, etc... things Mao thought was holding China back from catching up to rest of the modernizing world. What I want to say is, just think about it further.... you are not wrong to say some things should be rebuilt... but is it for the right reason? And do the people living their benefit? I'd rather have public infrastructure be made to last and have historical value, than to just have the newest biggest mega-mall.
Part of what the enemies of mankind are counting on. They want our spirits crushed, ultimately, so that they can implement these sorts of things with less resistance.
@@jeffreybeckham1130 I agree and I know what Im about to say is beyond what most people can believe but they also want us in a bad way because they feed off the energy.....
the building i live in, central europe, was built in 1961. its still like brand new. the landlord had the bath and pipes redone last year. some kitchen hardware is newer. else, this house will probably stand for another 60 years before it will be torn down. the oldest 5+ story building near me is from 1257. cheap construction has a price !
What this idiot put out his fake news to get money you can extend all leases in China go to China in the old day buy a old property in Beijing and they come in to build new property they pay you market value and the government give you a new property for free. meet lot of Chinese that got rich from this all way look for the truth go to China see the truth in UK you have no rights with properly or your land now that is the truth
@@stephenc2481 what are you chatting about rubbish for go to China and see the truth and Chinese people have over 3 trillian dollars in the banks and there bank account are backed by gold and you can do anythink you what in China buy stock go to Macau to the casinos. go to China and see the truth and the freedom you do not need a visa to go to China now Chinese are the big tourist in the world .Chinese love property same poor Chinese have 2 or 3 property
if this is horror can u imagine what its like living in China or anywhere else 20 years ago?ahahahahhaahha dont worry ur silly head about China.......china's gdp within a span of a mere 20 years is now 73 nearly 80 percent of USA, its total wealth and country networth is now 90 trillion USD almost 80 percent of US's.......up from practically nothing 20 years ago..... glimpse the horror?its funny how horrifying people's lives get the richer and more they have, they just feel ever so miserable. i think its just a comparative thing....u know once ur country gets to a certain degree of development suddenly everyone expects to be living at a certain level everyone expects to be at least this rich otherwise its the end of the world. omg US and eu used to dominate 64% of global gdp back in the 90s, today in 2023 ur share both US and EU combined has eroded to nearly 34% a near 50% decline, u know why inflation and cost of living in US is so high? like nothing u have ever witnessed before in the last 20,30 years? dont worry about the horror people of china live in, u are standing on the edge of the precipice, half the decks of titanic is already submerged underwater and u people are still blissfully unaware.......lolololololol
Socialism is a word with multiple definitions. If the government builds a road, that is socialism even if they did nothing else. A generic for anything a government does that is not libertarian, be it road building, running schools, etc. As a definition of a political and economic system, it is very much full on Marxism or communism.
I am a Real Estate Consultant and in India, these kinds of apartments are called "Gaothans" where the land is owned by a villager and built by them and you only purchase the apartment but not the land. And if they want to can go to court and evict you for that anytime. Most poor people do buy it at their own risk because of location advantage. I personally don't recommend anyone to buy whether it's in India, China or anyone else. This is what China is doing except on a government level and everywhere. But with no other choices while we Indians can avoid it altogether.
In Hawaii, we also had homes for sale on leasehold land and buyers would buy but only because there weren't as much fee simple land with homes. Now almost all homes are on fee simple land and leasehold are harder to sell.
Gaothan used to be open pastures reserved mostly by British in Mumbai and elsewhere so that milk could be provided to the city. These lands had village kind of governance and could not be used for normal construction and development. But now all hell's let loose with govt wanting to do lot of "development". It's kind of mafia which forces villagers to vacate, of course villagers are no longer tending cattle. Eventually the land parcels go to big builders who do a lot of "development". It's always the wealthy who get what they want.
@@donHooliganthis whole video is about how Chinese DONT actually own their homes. which honestly is how we operate here in the USA since property tax is a thing.
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@@donHooligan except they don't own it, the government does, they merely rent it from the _development company_ which in turn has rented it from the government and this means that when they _buy it_ they're not even benefitting from the full 70 years that the _development company_ paid for anyway, truly a China deal. If that's how it worked here I would prefer to not own a home and rent one instead, at least I'd be free to move wherever I wanted whenever I wanted.
It sounds absurd but local goverments will use emminent domain... and then give the land to developers. Emminent domain should be only for government use land
@@spooki_r6 u need to educate urself on US imminent domain. they are required to pay u for the property they steal (which isnt enough even if it was true), but they always end up giving u a fraction of the value, so u cant do anything with it anyways.
We have "lease hold" houses here in Canada on Indigenous lands but they are well advertised and transparent for 99 years. Homeowners pay a cheaper price for their homes BUT it's their choice and they know it's for themselves...not to pass it down to their estates.
The prices really are ridiculous and .....then .... Around one in every 500 Americans was experiencing homelessness in January 2023. The Department of Housing and Urban Development (HUD) counted 653,104 homeless Americans in its annual point-in-time report, which measures homelessness across the US on a single night each winter.28 Mar 2024
just imagine how much these people own in asset buying these properties... their networth is probably 200mil or 2000mil usd.. welcome to the world of made in china
True. Just remember: the moment you impose property taxes, the citizens dont own the property either, you lease it subject to your tax being paid every year!
@@YouAreStillNotablaze lolol...WHY would I ever want to be habitually lying, peae breaching, oath breaking, rights violating traitors terrorists "citizen/slave/subject/person?"
I remember you and c milk talking about how construction workers in China just knock down load bearing walls, then wonder why the building collapses! Great video!
You did a perfect job on your commercial for incogni. Sucked me in with your horribly funny singing, and it was short after that. So I didn't skip forward. 😅
Good video. Every time I hear a news story about real estate in China, it think "That's not real estate, they own a concrete box in the air on land with a 70 year lease."
You can buy a beautiful single family home with land in America $1.7 million. In my area around 20 acres and 6k to 7k sqft home with 2-4 car garage, 5+ bedrooms and 5+ bathrooms. In fact you might be able to do that for $1.3 million and save the $400k to pay taxes, insurance and upkeep.
We have the same system in Israel (Taboo, once moved from the dev company to the new owner, it's renewed to 70 years). So you don't own the land, and after the lease ends you may renew it. But you still own the apartment/house, and if the gov decide not to renew it, they will pay you the value of the apartment/house. Land ownership is something you have only in limited places in the world...
Ho, ho, ho . . . where have you been? But, it is far from funny. Search for this page.... a warning to Canada....The War for Ontario: Updates, Inspiration, and a Call to Action
Thanks for covering this topic. Had many similar thoughts a few years ago when I dove into this topic as an architect. What's mind boggling is how does one even more into the middle of an empty apartment house. Will the local authorities turn on services like electric, water, gas, sanitary to a whole building for just a few apartments? How is that paid for when only a few use it? The buildings are designed to run "efficiently" at 90% plus occupancy. Below that, maintenance will increase at a quicker rate. Hope you cover this topic more since it will be an ongoing, unfolding debacle for the next 20 years.
There is also you tube videos about some ancestral building that the village people with the same last name go to and pray to their ancestors. Apparently, they thought they own the property, but the local government officials said otherwise because they don't own the land. The new land developers want to knock down the building so the villagers resisted. The family tried to fight the demolishing and the goons as hard as they could but when they weren't around the officials brought in bulldozers and wreaking crew and demolished their ancestral home over night. The villagers realized the ancestral home are in ruins the next morning but there's nothing they can do or complain to legally. So, it's true you own nothing and if the officials said we are wreaking your property you can't do shit about it.
I never knew in how many countries, people could not actually buy their land along with the property. Appreciate you sharing your knowledge and the knowledge of your subscribers for their insights too. Stay Awesome
If the building last 50 years and the lease 70. What happens between the house is fallen apart or other and the 70 year mark. No builder will build on a 20 year horizon. So with the TOFU thing this type scenario should already have happened a lot of times. Needing to be solved legally an so on. Does it mean that the residents just gets a sunken cost as the house sinks into the mud beneath?
The building I used to live in Shanghai.... ceiling plaster collosped....reason people use jack hammer to renovate thier apartment....due to vibration every thing breaks😅😅😅..... imagine using jack hammer in a house
and that he was building facilities to stock old people in and take their home they've worked hard for but uses the "next generation" as an excuse to provide space for. Meanwhile, we know who will wind up with that land, not the young families he's pretending to do it for...but there's a larger force at work here. Is he just a puppet taking the hits on the frontline for bigger bullshit?
99 years seem like an eternity, but quite a few homeowners in Denmarks capitol Copenhagen found out the hard way that the city was adament that they paid full market price for the land their houses were built on 99 years ago, or the city would take the land back.
In the US and other similar western nations. You CAN own land. There are of course laws about what you're allowed to do with it. And you must pay property taxes to your local government. But it is your land and you can pass it down to your children. There might be some estate or inherentence tax but there are loopholes around those as well.
@@Technotranceism This is not True. First, it is a local government tax - that goes towards the budgets to pay infrastructure, maintenance, community services (trash collection, police, fire, etc.) costs etc. If local governments don't levy such taxes, one WILL pay them via some other form af taxation, levy, etc. So in any case, one will pay no matter the tax, method, and/or how one labels it. Such 'amenities' not 'free'. If one benefits from such, one needs to pay their share. Yes?
@@seekthetruth1478 you might want to refer to the TH-cam video, called suburbs are a ponzi scheme. Taxes isn't an issue, the issue is that everything about you is taxed, from the day you are born, and even past your own death. There's plenty of ways to pay for what you mention, it's just how they go about getting it.
No matter what you call it, it's still an ownership cost. Imagine if Steam required you to pay 10 USD per year to maintain your account. Same thing. What I would agree with, is that you could justify a garbage fee and perhaps a very small number of fees. But it would be better to attempt to reduce ownership costs to 0. Each citizen could be permitted to have true ownership of one property up to a certain size or value. Well, not ideal. Generally agree with your view. But some governments go beyond this and impose a wealth tax, which is arguably much worse. Property taxes are somewhat bearable if the gov't can explain exactly what we're paying for. This is true for taxes in general. I think what people really don't like is feeling that a useless mafia is merely stealing from them.
All you own is the space between the walls, and they can be taken away at a moments notice! My ex wife did inherit her mothers "house" (Read apartment/ flat) but there was no indication of any remaining lease. It was an older building, and at that time there had been no test cases to find out what would happen. She sold it soon after, made a huge profit and moved out of Beijing.
Nobody owns land in the USA either. Sure, China is much worst, I agree. But by definition, when you OWN something you are done paying for it. It is yours forever. No one can legally take it away from you. In the USA, what happens if you don't pay your property tax on the property you just spent the last 30 years paying the mortgage on so that you could "own" it? What if, you don't have an income anymore to pay the 3K a year (or whatever it happens to be) to pay the property taxes? The government can swoop in the take your house! Nobody owns ANYTHING ANYWHERE in the world. That's the truth. Corrupt governments everywhere own everything. They just give people the illusion of "ownership." Yeah its worst in China, meaning simply that it's more obvious.
Neither in Canada do people own or can afford to own homes now, the government keeps taxing the bejesus out of the home or condo you paid for it with initial taxes but they keep taxing it yearly for the Morgage duration even at sale there's taxes. Homeownership is an elusion even in the West 😆
It’s not hard if you run a family business for a few years and then sell it off. Plus many Chinese will work diligently hard everyday to save their income and not waste their money.
My wife is chinese they don’t waste money and save everything. They save up and buy the best of everything.On our 10th wedding anniversary i got a gold rolex. I still can’t believe i have one and i had to invest in a bank box to keep it safe. I’m too scared to wear it tbh . I can sell for thousands in profit but it’s a gift from my wife so can’t part with it.
Thanks for doing this video, Winston. I bang my head on my desk every time I hear otherwise knowledgable and professional people talk about a "housing market" in China: There IS NO HOUSING MARKET. There is a rental market. There is also a "Used Housing Market" that people refer to, which is a "previously occupied rental". Even though the price of a unit goes up after purchase, the real value and market value diverge instantly: The market value appreciates as if it is a home owned in perpetuity, but the real value is the (Purchase Price) / (Number of years left on the lease) - (wear and tear). The entire industry pretended that property was 'owned' forever and that things had an appreciating rather than a depreciating value. The "Dutch Tulip Disease" in which the Dutch speculated on the price of tulip bulbs and crashed their economy pales in comparison to the slow-motion crash of China's economy, but too many in the world are too invested in the lie to admit it until, like Blackstone, Blackrock, Goldman Sachs, Apple, Honda, etc... they steal away suddenly and in the night, taking their profits with them.
Btw, for China Watchers, Keyu Jin (金刻羽) is an associate professor at the London School of Economics and is one of a large faction of pro-CCP people at that school making it and London officially more infiltrated and anti-West even than our own Harvard University over the river from me in Cambridge, MA. She and CCP propagandist Hong Nong from ICAS are often guests in panel discussions such as at The Aspen Institute. ICAS is a pro-CCP think tank in DC that lobbies Congress on behalf of the Belt and Road Initiative (BRI).
America has a different twist. Paying off your mortgage is fine; you will even get the title to your property... but fail to pay your property taxes and the local government will take your property.
Similar BS in the USA. If I “own” my house, but don’t pay my yearly property tax, the government takes it real fast. Obviously China is 500 times worse, but it still sucks that in this world owning your literal shelter is either impossible or requires legal/ tax loopholes (US)
When one considers how China treated the people in Tibet, Xinjiang, Hong Kong and the entire South China sea, as a home "owner" I would be extremely skeptical as to what the government will do when the lease runs out. People don't understand how completely different law is in China. In China the laws are enacted to control the people, in the west laws are enacted for the people, fundamental difference. It's exactly the same for business in China, there is ZERO NULL no private business in China, the government can step in at any time and either close a business or take it. People need to wake up in the world, proper autocratic systems like China prohibit ownership of almost everything.
In Tibet China freed the people from a brutal feudal rule. Xinjang is made up US propaganda, after the US had stirred up Moslem extremists (because Xinjang is key for Belt and Road)
It may surprise people that even here in the UK, that Freehold land is not truly owned by the 'owner.' The 'owner' has the rights attached to the land 'free of rent' but only down to 500 feet below the surface. Land can be confiscated with a 'fair price' paid and against the will of the owner. Leasehold is quite common here in the Uk as is a concept called 'ground rent'. There are a number of other 'service charge' issues arising in modern housing developments that are making properties increasingly unsaleable as these charges escalate rapidly beyond rates of inflation. If the service charge or ground rent is not paid the property can revert to the landlord. Then there is the idea of 'share of freehold' which happens with leasehold apartments in apartment blocks where in theory people can buy the freehold of the block they live in but in reality is often blocked by various legal means. There are issues if someone dies without a Will and no relative found the state takes it. The state has significant powers over land and in WWII the state simply took over land and even entire villages. No one truly owns land where governments are involved.
Okay. But in Canada all land is owned by the crown. Doesn't stop the government from making you pay taxes on something you think you own, but can be seized by the government at any time.
we finished that lease already! ':D it's all so ridiculous. We need authentic-accountable leaders. Not lizard people selling their souls and feeding their own leaders by harvesting the fear, which results from the chaos they impose and lies they tell to the people they are elected to serve.
He addressed similar using the US as example to show there's not an equivalency to China. The situation in Canada is more similar to that of the US. There is fee simple ownership of land in the US and Canada. Taxes need be paid and there's eminent domain....not allodial title. This video distinguishes that from what he says is happening in China which is essentially a temporary grant to a developer who leases the property for so many years. That is very, very, very different than the US and Canada. His point was clearly explained. If you have facts to say this video is misrepresenting real estate ownership in China please share. Otherwise my impression from various sources is Serpentza is correct. CCP roots are in communism not private property.
Thats not government owned. A government forcing nationalizing isnt the wame as owning everything too if. Let alone that there would be veto and could do that johny english villain plan. Because its mostly a monarchy with checks to prevent that. Also right if justified well enough take land, is not owning everything, because you have to still justify it.
*Our God indeed is a covenant keeping God. Has he said a thing and not perform it? I watch how things unfold in my life, from penury to $356,000 every three months and I can only praise him and trust him more. Hallelujah 🙌🏻🙌🏻🙌🏻*
Wow, that's nice. She makes you that much!! please. Is there a way to reach her services? I work 3 jobs and trying to pay off my debts for a while now, please help me.
$2.2 million ? They could sneak across the US border and rent some pretty fantastic properties in some areas of the country for $4000 a month. They could rent for 550 months or 45+ years. Could likely get a good deal on owner financing with higher monthly payments and eventually own it.
its not US. its in Chinese yuan, many channels always mess this up. maybe its like 2 mil for you because most Chinese make only 3k per month, including the over time hours 2 per day. and an apartment will usually cost 1.5 mil to 2 mil.but in their yuan currency
Coming to US as well... With property tax we are already there but will be like in China. In Most Eastern Europe countries and most there is NO property tax!
First, it is a local government tax - that goes towards the budgets to pay infrastructure, maintenance, community services (trash collection, police, fire, etc.) costs etc. If local governments don't levy such taxes, one WILL pay them via some other form af taxation, levy, etc. So in any case, one will pay no matter the tax, method, and/or how one labels it. Such 'amenities' not 'free'. If one benefits from such, one needs to pay their share. Yes?
Timely. In Canada, this is exactly what Trudeau is proposing to do with government owned land - lease it to developers. He says the evil opposition party would sell that land to developers. Carefully not mentioning that the developers could sell it to individuals. And the state would not own it. And you know there will be a term in the lease like "government reserves the right to change the terms of the lease at any time" along with a bundle of restrictions on use and 'resale'.
Thank you so much for supporting me by watching my videos, and a massive thank you to Incogni for sponsoring this video: Take your personal data back with Incogni! Use code Winston at the link below and get 60% off an annual plan: incogni.com/winston
We urgently need an Electronic Bill of Rights to protect "we the people" from illegal surveillance and data-mining practices.
It's called "The American Dream" because you have to be asleep to believe it.
@@gillove189 It also works the same way with only a 99 year lease in the united states....
Your incogni link doesn’t work for Australian residents :(
Your race and nationality disgust me.
Well, they pioneered the "you'll own nothing and will be happy" concept after all.
except they're all miserable
@@fs5775 We aren't that different
@@Cobbido Speak for yourself. I have lived in both countries, have you? Every morning I wake up grateful that I never ever have to go back to China ever again. Never learned to appreciate the US more than when I lived in China. All Americans should be required to live there for a year.
Then they love acting like it's the best country for them 😅
@@fs5775 Every day we get closer and closer to the kind of government China has.
USA should practice reciprocity. No land sales to Chinese nationals.
Popular opinion in Australia too but gutless politicians and public 'servants' just want their money without facing any consequences.
They can take it back from chinese whenever they want. National security is the magic word.
@@paradoksparadoks6299 Trump will do it, i am sure about it.
It is not their property to sell. It belongs to the citizens of the United States. Period. The so called Government is our employee who is paid to serve on our behalf, not to serve at their own whim to grab fake money from outside sources under the pretense that they own the land.
Add Australia to that too.
It's crazy to think on how different level China operates; in Denmark I worked on restoring wooden floors that were 150+ years old, making them look like new, and most of them still gonna last probably 100 years or more with few more restorations. In China, entire buildings have a life of 50 years.
China operates like a crop field, plow the field and just plant new crops every year, leaving no trace of history behind. Really sad to think how much history will be just 'plowed' to keep making new tofu buildings instead of something that will last generations.
There is very very little in China older than 1750. They have a rebuilding culture, not a maintenance culture.
I recall seeing a demo of 3D printing a building.
Why do you want keep something so old.
The contrast with Europe - and the similarity to Canada - is staggering. In Europe, one can find buildings that are many centuries old, like Notre Dame Cathedral in Paris, and even older ones in Rome and other parts of southern Europe. In Canada, anything more than 50 years old tends to be viewed as something old and in need of replacement with something new, even if it is in good shape as many older buildings are.
@@rocketsteelwow. Yeah gee. Why would we want a Globe Theater or system that last millenia and teach us or own history... my God the reason the world is collapsing. IS BECAUSE PPL LIKE YOU CAN'T AIRFIELD EVEN HISTORY FROM JUST 50YRS AGO
Governments should not be allowed to own land like that. No one should be allowed to to hoard real estate either
Trudeau just announced a plan to literally replicate the Chinese 99 year lease. It’s evil
I know what you mean but not sure I completely agree with you. Maybe we could create a law that made buying land more expensive the more you own based on population size.
1.3 billion acres privately owned in 48 states. That’s about, 4 acres per person today. So after your first 4 acres you have to pay a one time tax of 10%, for the next four acres, then 20% on the following 4, then 30%, then 40%, then 50%, and so on until you get to 100%, and you can cap it there. Give people with less than some arbitrary number of say 400 acres or less a grandfathered-in status, and impose the tax going forward with a lifetime in which to pay the tax and it have no interest. And that tax can be a lein on the property. That would punish the “horders”.
What's to stop them? Welcome to the real world lol
@@samuelhelderman Private own is not the same as own for living on that land.
I suppose a lot of farmers also own land used for food production.
Which makes your idea something for make all people in the usa very hungry.....because farmers cannot keep paying those taxes and make a living from farming.
No farmers is the same as no food.
They have created a rental crisis here in Australia because they buy new apartments here and leave them empty
They do this Canada, particularly BC. China owns Canada and this is what has driven up the cost of housing- all by design 🤢🤮
How they got money out of China...
@@boatbeard7767it’s not hard if they are working for the government. It’s pretty much their overseas nest egg.
Same as NZ
Immigration Ponzi scheme is more to blame which does include those elements but also includes a million fake students from India that are just here to work
As a Chinese, I can confirm all land and resources contained in the land belong to the state, including but not limited to oil, minerals etc, According to Article 6 of the Land Administration Law of the People's Republic of China, land in urban areas belongs to the whole people, that is, the state, and land in rural areas and urban suburbs belongs to collective ownership.
As a Chinese person how does this make you feel? Is it a policy you agree with (or to ask another way do you agree with this communist approach to universal state ownership of land) Interested to hear your thoughts as a citizen of China but I appreciate you may not be in a position to elaborate.
Your body and mind also belong to the state.
Whenever they say something belongs to "the people", it doesn't belong to you.
They own australia too
@@berean77
they leave out the other half of that, it belongs to the people _in power_
This is what the WEF wants!
u mean got it already lol u r their slaves!
This is what a lot of our youth want
@@RyanMacWee Because they are being brainwashed since the kindergarden.
@@RyanMacWee Why would the youth not want to own anything? That's a nonsense what you say. The WEF wants to take everything from you... and yes, even your life. Their stated aim is to reduce population to 500 million worldwide.
I see. 2 qualified sociologists sh!tting in a corner.
China is depressing
Hey look on the bright side... they have gutter oil hot pot
It’s the world economy. Many corporate heads and world leaders are apparently attempting to implement something similar. It’s a manifestation of their fantasy.
its like canada!
...all those homeless addicts in the streets is gross.
@@Ktranphoto😂
Ive had a young Chinese doctor buy an apartment, above me a few months ago. He seems to be enjoying life in Australia, all I ever hear is him playing his guitars and he's really great at it. I personally think he enjoys being able to work hard and earn his peace and happiness 😊 as most of us also do.
Too many smart people in China, so too much competition. That's why he moved to Australia. He wants his share of stolen land from the aborigenes.
Wages in China are less. There is overpopulation and the government cannot provide jobs for all. I earn ten times in the US compared to what I earned in China.
Overpopulation leads to poverty, homelessness and misery. The Chinese know this very well and many choose to migrate
Keep an eye and an ear out, he might very well be one of those Chinese colonisers flooding into Australia
Really? You do know that to get out of China he has to be true Committee to the bone? He is not there freely. China will tell him what to do and when. Don't be fooled.
I have been to china, and can attest that all of the construction I've seen there will absolutely not last in a usable/habitable state for 70 years, and unlikely to last for 50 years. Buildings that are only 20 years old look like crap. Concrete that's only a few years old visibly crumbles. Plus, commonly held features are not maintained by anyone, as no-one cares about community property. Courtyards, sidewalks, restrooms, squares, etc are dirty, unkempt, bedraggled, and breaking. I will never return to China. It's a horrible place.
Go to Japan or South Korea instead. They're pristine. Hell. Even Thailand and Vietnam are pretty nice.
now I know why they build houses that won't last. after so many years, the gov't takes it anyway. sad indeed, for the people.
@@williamblaker2628 Besides the U Tube videos the west doesn’t say about how the majority people
live in China showing- how oppressed people’s lives are!The west doesn’t want to give us the real details because in the
last 25 years billionaires have popped up (less in China- I am presuming but especially in the west and other parts of the
world due to cheap Labour making useless plastic items galore, by those who have to do it). Interestingly it would be interesting to really know what life is really like for majority of the Chinese- definitely not the billionaires and Communist officials all over the country. They are in cahoots with western’ got rich quick western billionaires’. No wander Globalisation is moving faster everyday!
@@stephenc2481Welcome to communism. China is as worse as North Korea and Russia.
Its halirious how brainwashed you people are, Japan and South Korea are also terrible places disguised like they are so good. Also when did you goto China 40 years ago? I was there twice this year, cleaner than America and Canada. Sidewalks cleaner,transit cleaner.
a communist economist is basically a religious official, they have one answer and it's always the same answer
The party line from most economists is what the responses are. Economics is apparently much better for documenting economic trends trends than accurately predicting them.
reddit wants its anti traditionalist female type pontification back
Secularism is a religion and today most people believe in it and will end up in hellfire for an eternity, except those who repent before their death.
Better than Winston, who said this bubble will go on into the 2060s. It's already popping.
more people own homes (homeownership rate) in China than the US
A lot of countries don't allow foreigners to own property, but to not allow your own citizens to own property is a WEF dystopia.
Basic communist principle. No one can have private property and government own everything.
WEF?:p
There is no country on earth were the Goverment doesn’t own everything no one owns there house
America is the best.
Trudeau is trying to replicate this in Canada with 99 year leased government homes
had a tech guy in from china setting up some machinery we bought. got to talking and it came up that i own a house. the guy asked - for how long? thought it was a little strange. i now know why he asked .
Until You Fail To PAY US PROPERTY TAXES EVERY YEAR. YOU RENT YOUR HOME FROM THE CITY GOVERNMENT. NO DIFFERENT.
I have put my entire life time into turning a cow pasture into a fruit and nut farm.
A pecan tree takes 12 years to get a crop, but can live 200 years, so if I am 25 years old, I get a crop when I'm 40 and maybe 30 years if I live to be 70. Then, the most productive years, my son does not inherit my land and continue to reap the rewards of all my labor? Who would bother?
Someone who looks beyond their own primal familial instincts? It may be hard for us to understand, but the sustained success of China over the long term seems to be creating some bitter and petty reaction in our self centered cultures.
@@abies2000 China's only success has been to use our own short sighted profit motive to sell us products that we could have made ourselves. Even that is coming to an end, and it is obviously causing the collapse of their economy.
@@abies2000 lol as if you are dense enough to believe most people in China actually want that, or would chose that option if the other was available. You can only achieve something like that through force.
@simonbrosseau1783 of course. The Dictatorship of the Proletariat is a concept thoroughly acknowledged by Marx and most Communist movements in history. As is the horror of primitive acquisition. These things can not be denied. But we can not live in denial as our capitalist democracies fall apart.
@@simonbrosseau1783facts right there
Most condominiums in Singapore do not cost as much as those you featured regarding Shenzhen. Truly shocking !
it is very depressing to see the fotage of apartments rotting away. If i grew up in an area like that it would suck all life energy out of me. Im so sorry for people who grows up in china
And the Chinese have invested all of their savings into these ghost buildings.
Just also want to point out, that if you own your property, you are probably more likely to take care of it. There is a reason why soo many places in China look dilapidated even though a building may only be a couple years old. why pay money to maintain something that is not yours? That is the mindset for many. Shout out to the regular Chinese folks that do care for public/shared infrastructure.
China has a rebuilding culture, not a maintenance culture. Japan was the same until the last 15 or so years. Western Europe was that way until the 1600s or so.
@@toomanymarys7355ur just spouting nonsense
@@toomanymarys7355 LMAO Japan still tears down older buildings for new development mainly to keep up with constantly updated earthquake safety measures.
Sadly this is why communism may sound good as theory but in fact it doesn’t work! Majority of people
are insecure in their lives so they are greedy mostly -because they can’t do without..even when it is possible! Communist govts have never had to answer to the public just to the Party!
@toomanymarys7355 you're coping. At least you are optimistic. It's a huge investment to build things. It also cost money demolish, as well as destroying any materials that could not be recycled. Things should be teared down and replaced/upgraded/modernized in terms of safety and the benefit it provides to the community that lives there. There is a reason why people admire, learn, and try to preserve history. Some Chinese folks nowadays can't wrap their head around this concept after the great leap forward and the cultural revolution, where Mao ordered chinese citizens to destroy their own books, artifacts, temples, etc... things Mao thought was holding China back from catching up to rest of the modernizing world. What I want to say is, just think about it further.... you are not wrong to say some things should be rebuilt... but is it for the right reason? And do the people living their benefit?
I'd rather have public infrastructure be made to last and have historical value, than to just have the newest biggest mega-mall.
This shit is getting too depressing to hear about even half the world away
It's funny
I am w you in that thought/ feeling. 😞
Part of what the enemies of mankind are counting on. They want our spirits crushed, ultimately, so that they can implement these sorts of things with less resistance.
It clarifies the backdrop of Chinese investment worldwide for the past 30 to 40 years.
@@jeffreybeckham1130 I agree and I know what Im about to say is beyond what most people can believe but they also want us in a bad way because they feed off the energy.....
the building i live in, central europe, was built in 1961. its still like brand new. the landlord had the bath and pipes redone last year. some kitchen hardware is newer. else, this house will probably stand for another 60 years before it will be torn down. the oldest 5+ story building near me is from 1257. cheap construction has a price !
They tell us we will own nothing and we will be happy. This is a good sign of what’s to come if we accept those policies.
Most of the West has property taxes, so you have to buy AND rent your property, AND pay for maintenance and repair.
I had friends in China that build a hotel on land lease that was only valid for 20 years. So they had to rush to make a profit within 10 years.
What this idiot put out his fake news to get money you can extend all leases in China go to China in the old day buy a old property in Beijing and they come in to build new property they pay you market value and the government give you a new property for free. meet lot of Chinese that got rich from this all way look for the truth go to China see the truth in UK you have no rights with properly or your land now that is the truth
😢yikes
...I believe most commoners are not allowed to buy stocks. only few things they can do. one, buy real estates.
@@stephenc2481 what are you chatting about rubbish for go to China and see the truth and Chinese people have over 3 trillian dollars in the banks and there bank account are backed by gold and you can do anythink you what in China buy stock go to Macau to the casinos. go to China and see the truth and the freedom you do not need a visa to go to China now Chinese are the big tourist in the world .Chinese love property same poor Chinese have 2 or 3 property
"Police are scumbags"
It was nice of the police to verify his t-shirt slogan.
Lol I was gonna say 😂😂
fuck is that emoji
Wow, I had no idea. Thanks for clearing that up!
Keep it coming, Winston. We're glad you're in the States now.
when did he say he's in the States?
I've never heard this discussed anywhere else. Thanks for making this video.
He has several surprising videos on China.
As outsiders we only get to glimpse at the horror but the people of China have no choce but to enduring living this way.
Could be any country in the future, the world is becoming communist very fast, even the USA is not safe from it.
if this is horror can u imagine what its like living in China or anywhere else 20 years ago?ahahahahhaahha
dont worry ur silly head about China.......china's gdp within a span of a mere 20 years is now 73 nearly 80 percent of USA, its total wealth and country networth is now 90 trillion USD almost 80 percent of US's.......up from practically nothing 20 years ago.....
glimpse the horror?its funny how horrifying people's lives get the richer and more they have, they just feel ever so miserable.
i think its just a comparative thing....u know once ur country gets to a certain degree of development suddenly everyone expects to be living at a certain level everyone expects to be at least this rich otherwise its the end of the world.
omg US and eu used to dominate 64% of global gdp back in the 90s, today in 2023 ur share both US and EU combined has eroded to nearly 34% a near 50% decline,
u know why inflation and cost of living in US is so high? like nothing u have ever witnessed before in the last 20,30 years?
dont worry about the horror people of china live in, u are standing on the edge of the precipice, half the decks of titanic is already submerged underwater and u people are still blissfully unaware.......lolololololol
You’ve been lied to
@@ManaMana-le7id lied to by shills like you
Bot@@ManaMana-le7id
Socialism/communism always ends in a bodycount!
Socialism and communism are different fruit ..apples and oranges logic again.
@@Ukie88 if you say so,read a book.
@@Ukie88 94million deaths through communism and 17 million through national socialism!
Socialism is a word with multiple definitions. If the government builds a road, that is socialism even if they did nothing else. A generic for anything a government does that is not libertarian, be it road building, running schools, etc. As a definition of a political and economic system, it is very much full on Marxism or communism.
@@Ukie88 “The goal of socialism is communism.” -Vladimir Lenin
I am a Real Estate Consultant and in India, these kinds of apartments are called "Gaothans" where the land is owned by a villager and built by them and you only purchase the apartment but not the land. And if they want to can go to court and evict you for that anytime. Most poor people do buy it at their own risk because of location advantage. I personally don't recommend anyone to buy whether it's in India, China or anyone else.
This is what China is doing except on a government level and everywhere. But with no other choices while we Indians can avoid it altogether.
In Hawaii, we also had homes for sale on leasehold land and buyers would buy but only because there weren't as much fee simple land with homes. Now almost all homes are on fee simple land and leasehold are harder to sell.
Rare in India...
where in india? I have never heard about it, Even though i also from here
@@EpicDurian6964 Mumbai Metro Area
Gaothan used to be open pastures reserved mostly by British in Mumbai and elsewhere so that milk could be provided to the city. These lands had village kind of governance and could not be used for normal construction and development. But now all hell's let loose with govt wanting to do lot of "development". It's kind of mafia which forces villagers to vacate, of course villagers are no longer tending cattle. Eventually the land parcels go to big builders who do a lot of "development". It's always the wealthy who get what they want.
An other amazing, enlightening and eye opening video. Thanks Serpentza !
Thank you. Love everything you post ❤
Good. Let's all further help the Chinese out by reducing any Made-in-China purchases whenever humanly possible.
The main problem is that everywhere I go, everything is Made In China. On every label, on every product. How did we let this happen?
@@davoash-Dash-Tech false
@@davoash-Dash-Technope. Indonesia, Malaysia, Vietnam, Bangladesh, Mexico, + local vendors
@@orgela Mainly true
@WarkopWibuTV ccp bot
communism and private property, aren't they mutually exclusive things
homeownership rate in China is higher than the US.
@@donHooligan Only CCP owns land in China.
@@donHooligan pssshhh, dont anger the capitalist with logic
@@donHooliganthis whole video is about how Chinese DONT actually own their homes. which honestly is how we operate here in the USA since property tax is a thing.
@@donHooligan except they don't own it, the government does, they merely rent it from the _development company_ which in turn has rented it from the government and this means that when they _buy it_ they're not even benefitting from the full 70 years that the _development company_ paid for anyway, truly a China deal. If that's how it worked here I would prefer to not own a home and rent one instead, at least I'd be free to move wherever I wanted whenever I wanted.
Imminent domain needs to be abolished, otherwise America is at risk of this happening. Screw Klaus Schwab.
It sounds absurd but local goverments will use emminent domain... and then give the land to developers. Emminent domain should be only for government use land
You act like the government doesn’t compensate you for seizures of land. They don’t just strip everything from you and leave you homeless bro
Same here in Denmark (Europe)
@spooki_r6 You can't own land in America. More like paying to maintain the governments land.
@@spooki_r6 u need to educate urself on US imminent domain. they are required to pay u for the property they steal (which isnt enough even if it was true), but they always end up giving u a fraction of the value, so u cant do anything with it anyways.
Superb reporting from Serpentza.
Great video. Love from South Africa 🇿🇦
70 years lease in China, and 99 years lease in Singapore. Have always wondered what happens after the lease is ended for the first owner...
That's a problem for Future Homer
Just renew the lease. Many in Malaysia and UK are 99 years lease as well
We have "lease hold" houses here in Canada on Indigenous lands but they are well advertised and transparent for 99 years. Homeowners pay a cheaper price for their homes BUT it's their choice and they know it's for themselves...not to pass it down to their estates.
The prices really are ridiculous.
@@Burglecutter yeah, you can buy 2 fat houses in US for that price 😂
The prices really are ridiculous and .....then ....
Around one in every 500 Americans was experiencing homelessness in January 2023. The Department of Housing and Urban Development (HUD) counted 653,104 homeless Americans in its annual point-in-time report, which measures homelessness across the US on a single night each winter.28 Mar 2024
it's like toddlers selling Legos at their dollhouse shop ;)
@@orgela in an european country with that amount of money you can buy a car 2 houses and still have some money for other things xD
just imagine how much these people own in asset buying these properties... their networth is probably 200mil or 2000mil usd.. welcome to the world of made in china
How on earth do people fall for it? They own literally NOTHING.
they dont have Arms
@@dknowles60 Same deal here in the USA.. check your Warranty deed. Its says "Tenant" right on the top. The state controlled by the banks owns it.
True. Just remember: the moment you impose property taxes, the citizens dont own the property either, you lease it subject to your tax being paid every year!
@@perseusrex614 the collectivists have been busy behind our sleeping backs!
*🕎✡WEF✡🕎*
Thanks!
Amazingly good reporting! Very well explained in a short and easily understandable format!
Sounds familiar ... you will own nothing ... and you will not be happy 😮
It was "You'll own nothing and you will be happy" and it's the future of 99% of people in 2040, maximum 2060
@@blackcorp0001 where else do you live? North Korea?
@@orgela close
you already do not own anything. Try stopping the house tax and you will be forced to sell house and pay the figures.
@@Adnancorner ccp bot
In the U S.,Some states allow family members to be buried on residential land, which voids out having to pay property taxes.
Can you explain that?
what is this mumbo jumbo of creating a tomb ? What are you talking about ?
@@Adnancorner a simple Google search will give you a thorough description,stop being lazy
65 plus in some states no property tax..
The difference between being a citizen and a subject.
A citizen "is" a SUBJECT......
@@6StimuL84right? People want to be a 'citizen' without any of those pesky 'responsibilities'.
@@6StimuL84 It depends on the system. In most western countries, we’re neither. We’re consumers and sources of data.
@@Ketowski Wrong....You are The Sovereign People on "The Republic" or a SUBJECT....Maybe you should learn the difference?
@@YouAreStillNotablaze lolol...WHY would I ever want to be habitually lying, peae breaching, oath breaking, rights violating traitors terrorists "citizen/slave/subject/person?"
I remember you and c milk talking about how construction workers in China just knock down load bearing walls, then wonder why the building collapses! Great video!
You did a perfect job on your commercial for incogni.
Sucked me in with your horribly funny singing, and it was short after that. So I didn't skip forward. 😅
Good video. Every time I hear a news story about real estate in China, it think "That's not real estate, they own a concrete box in the air on land with a 70 year lease."
Property tax is messed up, but China is unbelievable.
I was thinking yeah we never really own our property either but this is way worse!
You can buy a beautiful single family home with land in America $1.7 million. In my area around 20 acres and 6k to 7k sqft home with 2-4 car garage, 5+ bedrooms and 5+ bathrooms. In fact you might be able to do that for $1.3 million and save the $400k to pay taxes, insurance and upkeep.
Great vlog. Almost like a short documentary. Good job, keep them coming.
Excellent as per usual. Love the attitude Winston and your part in the China Show.
We have the same system in Israel (Taboo, once moved from the dev company to the new owner, it's renewed to 70 years). So you don't own the land, and after the lease ends you may renew it. But you still own the apartment/house, and if the gov decide not to renew it, they will pay you the value of the apartment/house.
Land ownership is something you have only in limited places in the world...
People seriously don't understand this. Thanks for sharing.
Too many chinese bots in the comments. They always try to make USA, Canada feel they're in similar trouble.
So pathetic!
Ho, ho, ho . . . where have you been? But, it is far from funny. Search for this page.... a warning to Canada....The War for Ontario: Updates, Inspiration, and a Call to Action
Truth doesn't matter, reasons don't matter, the only thing that matters is CCP propaganda.
It's so sad lookimg at the sheer amount. This effort at finger pointing is also a sign that it's really bad in China.
@@kanao2007 To be frank China makes USA, Canada seem like heaven.
@@crynesesoldier6983 True
Thanks for covering this topic. Had many similar thoughts a few years ago when I dove into this topic as an architect. What's mind boggling is how does one even more into the middle of an empty apartment house. Will the local authorities turn on services like electric, water, gas, sanitary to a whole building for just a few apartments? How is that paid for when only a few use it? The buildings are designed to run "efficiently" at 90% plus occupancy. Below that, maintenance will increase at a quicker rate. Hope you cover this topic more since it will be an ongoing, unfolding debacle for the next 20 years.
There is also you tube videos about some ancestral building that the village people with the same last name go to and pray to their ancestors. Apparently, they thought they own the property, but the local government officials said otherwise because they don't own the land. The new land developers want to knock down the building so the villagers resisted. The family tried to fight the demolishing and the goons as hard as they could but when they weren't around the officials brought in bulldozers and wreaking crew and demolished their ancestral home over night. The villagers realized the ancestral home are in ruins the next morning but there's nothing they can do or complain to legally. So, it's true you own nothing and if the officials said we are wreaking your property you can't do shit about it.
Finaly someone spotted the crooked state
Love your ad!!! a real voice with no auto tune. Great content too. Don't change a thing, stay awesome!!
My Chinese sugar momma told me, that’s she only has 40 years left owning her apartment. I was confused and now I understand! Thank you.
You are proud broadcasting that you are a bum!
oh yeah? how old is this sugar momma.. ... and also where does one find a chinese sugar momma.. asking for a friend :)
also asking for a friend
I never knew in how many countries, people could not actually buy their land along with the property. Appreciate you sharing your knowledge and the knowledge of your subscribers for their insights too. Stay Awesome
China, North Korea, and Greenland are the only countries I'm aware of that don't allow private ownership of land by citizens. What other countries?
When you buy a condo in New York, how much land do you own? How much property tax do you pay?
@@jjhappy2399 , When you buy 10,000 acres of land in New York, how does that compare to China, Troll?
Thank you for sharing that important information. I was completely unaware that no one owns their homes in China.
This is one of your best videos, man. You just keep topping yourself, and that is remarkable. Thanks for all ya do.
Not sure you will even be able to sell the apartment when it has little time left, because potential buyers would be taking a huge risk
If the building last 50 years and the lease 70. What happens between the house is fallen apart or other and the 70 year mark. No builder will build on a 20 year horizon. So with the TOFU thing this type scenario should already have happened a lot of times. Needing to be solved legally an so on. Does it mean that the residents just gets a sunken cost as the house sinks into the mud beneath?
Maybe they will simply let it rot until the government takes it back.
The lands are just abandoned, left as a. Ruble.
Yes it has happened already.
Owners lost all the value of their homes . Consider the money gone
If you trust the serpent guy ,then you are fooled.
The building I used to live in Shanghai.... ceiling plaster collosped....reason people use jack hammer to renovate thier apartment....due to vibration every thing breaks😅😅😅..... imagine using jack hammer in a house
This is Trudeau's new plan for housing. I am not joking. He flat out said "long-term lease" for public land.
and that he was building facilities to stock old people in and take their home they've worked hard for but uses the "next generation" as an excuse to provide space for. Meanwhile, we know who will wind up with that land, not the young families he's pretending to do it for...but there's a larger force at work here. Is he just a puppet taking the hits on the frontline for bigger bullshit?
No way, that's horrible!!
Trudeau also said that he "admires China's basic dictatorship" so why would he not be copying CCP policies and methods.
That shouldn't surprise anyone, considering that he openly stated how much he admires the Communist government of China.
99 years seem like an eternity, but quite a few homeowners in Denmarks capitol Copenhagen found out the hard way that the city was adament that they paid full market price for the land their houses were built on 99 years ago, or the city would take the land back.
5:10 I do not believe that a >80m³ apartment would have such tiny cramped kitchen and bathroom. That's madness.
Informative. Thanks
I doubt most those buildings will last 48 years . They also tear down 6 story buildings and build 25 story ones
In the US and other similar western nations. You CAN own land.
There are of course laws about what you're allowed to do with it. And you must pay property taxes to your local government.
But it is your land and you can pass it down to your children.
There might be some estate or inherentence tax but there are loopholes around those as well.
If you pay taxes on the land, than you never truly own it, you are leasing it from the government.
@@Technotranceism This is not True.
First, it is a local government tax - that goes towards the budgets to pay infrastructure, maintenance, community services (trash collection, police, fire, etc.) costs etc. If local governments don't levy such taxes, one WILL pay them via some other form af taxation, levy, etc. So in any case, one will pay no matter the tax, method, and/or how one labels it. Such 'amenities' not 'free'. If one benefits from such, one needs to pay their share. Yes?
@@seekthetruth1478 you might want to refer to the TH-cam video, called suburbs are a ponzi scheme. Taxes isn't an issue, the issue is that everything about you is taxed, from the day you are born, and even past your own death. There's plenty of ways to pay for what you mention, it's just how they go about getting it.
No matter what you call it, it's still an ownership cost.
Imagine if Steam required you to pay 10 USD per year to maintain your account.
Same thing.
What I would agree with, is that you could justify a garbage fee and perhaps a very small number of fees. But it would be better to attempt to reduce ownership costs to 0. Each citizen could be permitted to have true ownership of one property up to a certain size or value. Well, not ideal.
Generally agree with your view.
But some governments go beyond this and impose a wealth tax, which is arguably much worse.
Property taxes are somewhat bearable if the gov't can explain exactly what we're paying for.
This is true for taxes in general. I think what people really don't like is feeling that a useless mafia is merely stealing from them.
@@Technotranceism YEA
All you own is the space between the walls, and they can be taken away at a moments notice!
My ex wife did inherit her mothers "house" (Read apartment/ flat) but there was no indication of any remaining lease. It was an older building, and at that time there had been no test cases to find out what would happen. She sold it soon after, made a huge profit and moved out of Beijing.
Nobody owns land in the USA either. Sure, China is much worst, I agree. But by definition, when you OWN something you are done paying for it. It is yours forever. No one can legally take it away from you. In the USA, what happens if you don't pay your property tax on the property you just spent the last 30 years paying the mortgage on so that you could "own" it? What if, you don't have an income anymore to pay the 3K a year (or whatever it happens to be) to pay the property taxes? The government can swoop in the take your house! Nobody owns ANYTHING ANYWHERE in the world. That's the truth. Corrupt governments everywhere own everything. They just give people the illusion of "ownership." Yeah its worst in China, meaning simply that it's more obvious.
Yes, I did know. I learned it from this TH-cam motorbike channel I used to watch "ADV China".
The drone footage of you two at the start though... 🥰 so wholesome!
Thought the same thing. First time Ive actually seen his wife. They are adorable.
A wholesome start no doubt and great to see such smiles but man did this episode get me down
thats why he got married with her. lol.
Neither in Canada do people own or can afford to own homes now, the government keeps taxing the bejesus out of the home or condo you paid for it with initial taxes but they keep taxing it yearly for the Morgage duration even at sale there's taxes. Homeownership is an elusion even in the West 😆
I don’t get how the Chinese can raise 30% of $1-2million to “buy” an apartment? I can’t afford to do that in the U.K.
It’s not hard if you run a family business for a few years and then sell it off. Plus many Chinese will work diligently hard everyday to save their income and not waste their money.
My wife is chinese they don’t waste money and save everything. They save up and buy the best of everything.On our 10th wedding anniversary i got a gold rolex. I still can’t believe i have one and i had to invest in a bank box to keep it safe. I’m too scared to wear it tbh . I can sell for thousands in profit but it’s a gift from my wife so can’t part with it.
Enjoyed your informational video very good as always keep up the good work
China's housing bubble!! Well as a Canadian I'm always wondering when ours is going to burst!
Thanks for doing this video, Winston. I bang my head on my desk every time I hear otherwise knowledgable and professional people talk about a "housing market" in China: There IS NO HOUSING MARKET. There is a rental market. There is also a "Used Housing Market" that people refer to, which is a "previously occupied rental". Even though the price of a unit goes up after purchase, the real value and market value diverge instantly: The market value appreciates as if it is a home owned in perpetuity, but the real value is the (Purchase Price) / (Number of years left on the lease) - (wear and tear). The entire industry pretended that property was 'owned' forever and that things had an appreciating rather than a depreciating value.
The "Dutch Tulip Disease" in which the Dutch speculated on the price of tulip bulbs and crashed their economy pales in comparison to the slow-motion crash of China's economy, but too many in the world are too invested in the lie to admit it until, like Blackstone, Blackrock, Goldman Sachs, Apple, Honda, etc... they steal away suddenly and in the night, taking their profits with them.
Btw, for China Watchers, Keyu Jin (金刻羽) is an associate professor at the London School of Economics and is one of a large faction of pro-CCP people at that school making it and London officially more infiltrated and anti-West even than our own Harvard University over the river from me in Cambridge, MA. She and CCP propagandist Hong Nong from ICAS are often guests in panel discussions such as at The Aspen Institute. ICAS is a pro-CCP think tank in DC that lobbies Congress on behalf of the Belt and Road Initiative (BRI).
Thank you so much for your videos
Going into debt for a home you never own shows a lack of critical thinking.
America has a different twist. Paying off your mortgage is fine; you will even get the title to your property... but fail to pay your property taxes and the local government will take your property.
YEA
A title only grants entitlement not ownership. Titles and deeds list you as a tenant not owner. So ask yourself who really owns what.
Similar BS in the USA. If I “own” my house, but don’t pay my yearly property tax, the government takes it real fast. Obviously China is 500 times worse, but it still sucks that in this world owning your literal shelter is either impossible or requires legal/ tax loopholes (US)
Blame indians
When one considers how China treated the people in Tibet, Xinjiang, Hong Kong and the entire South China sea, as a home "owner" I would be extremely skeptical as to what the government will do when the lease runs out. People don't understand how completely different law is in China. In China the laws are enacted to control the people, in the west laws are enacted for the people, fundamental difference. It's exactly the same for business in China, there is ZERO NULL no private business in China, the government can step in at any time and either close a business or take it. People need to wake up in the world, proper autocratic systems like China prohibit ownership of almost everything.
In Tibet China freed the people from a brutal feudal rule. Xinjang is made up US propaganda, after the US had stirred up Moslem extremists (because Xinjang is key for Belt and Road)
In the west, try not paying your (rent) property tax and you'll find out very quickly who owns your land.
In China, you don’t even have that option, you can’t own any land at all under any circumstances
@@serpentza It's all over the world like that, but with different wording.
They own the planet
It may surprise people that even here in the UK, that Freehold land is not truly owned by the 'owner.' The 'owner' has the rights attached to the land 'free of rent' but only down to 500 feet below the surface. Land can be confiscated with a 'fair price' paid and against the will of the owner. Leasehold is quite common here in the Uk as is a concept called 'ground rent'. There are a number of other 'service charge' issues arising in modern housing developments that are making properties increasingly unsaleable as these charges escalate rapidly beyond rates of inflation. If the service charge or ground rent is not paid the property can revert to the landlord. Then there is the idea of 'share of freehold' which happens with leasehold apartments in apartment blocks where in theory people can buy the freehold of the block they live in but in reality is often blocked by various legal means.
There are issues if someone dies without a Will and no relative found the state takes it. The state has significant powers over land and in WWII the state simply took over land and even entire villages. No one truly owns land where governments are involved.
Okay. But in Canada all land is owned by the crown. Doesn't stop the government from making you pay taxes on something you think you own, but can be seized by the government at any time.
we finished that lease already! ':D it's all so ridiculous. We need authentic-accountable leaders. Not lizard people selling their souls and feeding their own leaders by harvesting the fear, which results from the chaos they impose and lies they tell to the people they are elected to serve.
He addressed similar using the US as example to show there's not an equivalency to China. The situation in Canada is more similar to that of the US. There is fee simple ownership of land in the US and Canada. Taxes need be paid and there's eminent domain....not allodial title. This video distinguishes that from what he says is happening in China which is essentially a temporary grant to a developer who leases the property for so many years. That is very, very, very different than the US and Canada. His point was clearly explained. If you have facts to say this video is misrepresenting real estate ownership in China please share. Otherwise my impression from various sources is Serpentza is correct. CCP roots are in communism not private property.
Watch and listen to videos. First, stop whining like typical CCP Chinese criminal party slave.
Even in the US we never truly own our property.
Thats not government owned. A government forcing nationalizing isnt the wame as owning everything too if.
Let alone that there would be veto and could do that johny english villain plan.
Because its mostly a monarchy with checks to prevent that.
Also right if justified well enough take land, is not owning everything, because you have to still justify it.
In Canada, it's common to lease on native reserves because they can't sell land to individuals either.
ccp bot detected
@@orgela What jjjones4982 said is fact and is not a CCP bot. Maybe not in the whole of Canada, but certainly true in the province of British Columbia.
You compare the 2% of land with 100% in Chyna. In Whataboutism you trust huh?
@@chickensoup44 I think different reserves have different arrangements because they’re the homes of sovereign nations.
The treaties specified no individual ownership of land, it was all communal.
Thank you for the video serpentza.
Massive fan Serpentza! From Ireland.🇮🇪
Thanks. Didnt know about the nailhouses getting wiped. Its horrible.
Deeply grateful to be an American, thanks for the reminder, Winston. We don't realize how good we have it.
Everything in China belongs to the CCP.
we are getting there
Stop paying property tax and watch how 'your' home gets taken away by the state authorities.
@@PyroMax hahahaha as if chinese dont pay property tax .
@@PyroMax watch until the end dipsh*t
I like how you think the building will last 70 years……. The building will be condemned after 35 years.
Love the treehouse on uncles rented land ...
So funny no one here would lease a $ million dollars apartment.
The treehouse analogy near the end gave me a good chuckle.
When the ad is as entertaining as the video. Karaoke!
*Our God indeed is a covenant keeping God. Has he said a thing and not perform it? I watch how things unfold in my life, from penury to $356,000 every three months and I can only praise him and trust him more. Hallelujah 🙌🏻🙌🏻🙌🏻*
Hello!! how do you make such monthly, I’m a born Christian and sometimes I feel so down of myself 😭 because of low finance but I still believe God
Thanks to my co-worker (Carson ) who suggested Ms Susan Jane Christy
She's a licensed broker here in the states🇺🇸 and finance advisor.
After I raised up to 525k trading with her I bought a new House and a car here in the states🇺🇸🇺🇸 also paid for my son's surgery….Glory to God, shalom.
Wow, that's nice. She makes you that much!! please. Is there a way to reach her services? I work 3 jobs and trying to pay off my debts for a while now, please help me.
$2.2 million ? They could sneak across the US border and rent some pretty fantastic properties in some areas of the country for $4000 a month. They could rent for 550 months or 45+ years. Could likely get a good deal on owner financing with higher monthly payments and eventually own it.
@@somenygaard 2.2mill you can buy 2 fat houses as minimum
its not US. its in Chinese yuan, many channels always mess this up. maybe its like 2 mil for you because most Chinese make only 3k per month, including the over time hours 2 per day. and an apartment will usually cost 1.5 mil to 2 mil.but in their yuan currency
@@irinaparent9066 its in $, ccp bot
Dear god I can’t believe that I am listening to it blows my mind. I just feel bad for everybody in China.
Between the singing and the sarcasm this is a 10/10 video
Coming to US as well...
With property tax we are already there but will be like in China.
In Most Eastern Europe countries and most there is NO property tax!
There's no comparison between the two countries.
First, it is a local government tax - that goes towards the budgets to pay infrastructure, maintenance, community services (trash collection, police, fire, etc.) costs etc. If local governments don't levy such taxes, one WILL pay them via some other form af taxation, levy, etc. So in any case, one will pay no matter the tax, method, and/or how one labels it. Such 'amenities' not 'free'. If one benefits from such, one needs to pay their share. Yes?
You are very misinformed on European countries.
Timely. In Canada, this is exactly what Trudeau is proposing to do with government owned land - lease it to developers. He says the evil opposition party would sell that land to developers. Carefully not mentioning that the developers could sell it to individuals. And the state would not own it.
And you know there will be a term in the lease like "government reserves the right to change the terms of the lease at any time" along with a bundle of restrictions on use and 'resale'.