The Scary Solution to the Chinese Debt Crisis #Shorts | Economics Explained

The video discusses the unaffordability of housing in major Chinese cities compared to the US, highlighting Shenzhen's extreme housing cost relative to income. It attributes this to rampant property investment, where multiple generations save for a home deposit. In response, the Chinese government has proposed a property tax to curb real estate hoarding. Additionally, land in China is leased from the government, effectively imposing a long-term tax on property ownership.

What is the average home cost in New York compared to the average household income?

How many times the average household income does an average home cost in Shenzhen?

What has driven the property prices in China to become unaffordable?

What proposal has the Chinese government made to address the issue of property investment?

How does land ownership work in China according to the text?