“Under communism you can't own a home”
“Under communism you can't own a home”
Meanwhile in a capitalist country "Hey, poors, we're raising your rent to $3000. No you can't have a plant."
I found funny when rental announcements in my area said "pets allowed", like is an added benefit. Mf, is the fucking law.
which is like a restaurant saying we won't put poison in the food
I never heard anyone say that about communism but wouldn't surprise me if they believed that. Be same assholes who dont own or can't afford a home in America.
China at 70% millennial home ownership: "This property bubble is out of control, we need to deflate it. Housing is for living in, not speculation."
US at 35 to 50% millennial home ownership: "Hahahaha free market go brrrrrrrr. Bootstrap yourself you lazy millennial!"
70% Of China's Millennials Own Homes. Sorry America — The Political Vigilante
Heard it from here what you pointed out.
China's not communist and their living situation is terrible.
While yes they live longer than Americans and own their own homes and live in gigantic modern cities with well planned public transportation networks built in living memory on top of premodern villages where their illiterate grandparents used to live and they all get healthcare without risking dying in a tent city as a result of getting sick, etc.
Have you considered that they don't get to be on Facebook? Checkmate putlerbots.
In Shanghai you can work minimum wage and only spend roughly 1/4th to 1/3rd of your income on housing for a standard apartment
tell me more
Oh no, somebody should tell them that!
I dont own a home now.
How is this actually done in communist countries? Is it all housing co-ops?
I don't know. The more I read about countries like China and Cuba, the more I realize I really have no idea what's going on or how things work over there. And it's not like it is easy to find unbiased information.
some decent papers in here: https://www.dukeupress.edu/the-cuba-reader-second-edition
In China they have rules that aggressively favor owner-occupiers.
Eg if you want to buy a second property you need to pay 60% cash up front and can only borrow 40%, and for a third or subsequent property you can’t get a mortgage and need to pay cash.
This means being a speculator in existing housing stock isn’t attractive since it locks up so much capital - and so speculators have instead invested in new builds which is why there has been a bubble in construction, but at least it means for the existing housing stock is largely an owner-occupier market.
There are also special funds specifically for saving for a house, kind of similar to a 401k, that you can put your money into as a savings account and your employer has to match your contributions.
also sometimes the Chinese state will just seize real estate if they feel like it. So if you do lock up capital in landlording in China there is a risk they will just take that capital
According to the wikipedia list of countries by home ownership rates, the top ten nations by home ownership are: https://en.wikipedia.org/wiki/List_of_countries_by_home_ownership_rate
Laos : 95.9%
Romania : 95.3%
Kazakhstan : 95%
Slovakia : 92.9%
Hungary : 91.7%
Croatia : 90.5%
Cuba : 90%
North Macedonia : 90%
Vietnam : 90%
China : 89.68%
Other than North Macedonia, which I know very very little about, all of these nations currently have, or at least have had a ruling communist party in living memory.
North Macedonia, former Macedonia - one of republics of Socialist Yugoslavia, ruled by Communist Party roughly from WW2 to 90s.
that's not real communism then duh
communism is when hungry and no iphone. That's just state capitalism