184
To circumvent local government's restriction on sharp price drop, Chinese real estates developers literally handed out gold ingots to home buyers. (lemmy.nz)
submitted 1 year ago by throws_lemy@lemmy.nz to c/damnthatsinteresting@lemmy.ml
23 comments fedilink hide all child comments

Context :

https://www.theguardian.com/world/2023/jun/12/gold-bars-used-to-lure-chinese-homebuyers-amid-market-slowdown

you are viewing a single comment's thread
view the rest of the comments
[-] LoamImprovement@beehaw.org 34 points 1 year ago

This means that real estate developers are saying "I can't sell this house for $250K but I can sell it for $300K and give you a 1Kg ingot worth $50K" to get around the overvaluing of the house, because people won't buy the house at the prices Chinese government insists they should be sold.

[-] Smoked_Brie 4 points 1 year ago

Oh my… what a shit show. Thanks for explaining friend.

this post was submitted on 25 Aug 2023
184 points (100.0% liked)

Damn, that's interesting!

4699 readers
1 users here now

  1. No clickbait
  2. No Racism and Hate speech
  3. No Imgur Gallery Links
  4. No Infographics
  5. Moderator Discretion
  6. Repost Guidelines
  7. No videos over 15 minutes long
  8. No "Photoshopped" posts
  9. Image w/ text posts must be sourced in comments

founded 3 years ago
MODERATORS
9Q6u7hroWkwW9@lemmy.ml