Real Estate Rage is Back

The price was cut 22 percent and it triggered pissed off buyers who paid higher.

房价从1.8降价4千，泰州“华樾花园”交付维权pic.twitter.com/N88XQBLqdZ

— 财经数据库 (@caijingshujuku) August 31, 2023

I could not confirm via news, although a search for the city and project did turn up listings at the 18,000 yuan/sq ft price. This type of news would get covered years ago. I don't know for certain, but suspect this will run afoul of the new guidelines. In that case, take everything with a bit of salt until you see some confirmation because there are anti-CCP forces in the West that hype this type of news, show old videos claiming it is new and so on. I am fairly confident this is real because a busy season is coming in late September as both Mid-Autumn Festival and the Golden Week align. It would make sense for some developers to try discounts now to beat what all signs say will be a disappointing season.

Here is a post from 2019 speculating on this very timing: Will Real Estate Rage Return in 2019? Developers Slashing Home Prices Ahead of Mid-Autumn and National Day

Here's a protest from 2014. Link is dead now unfortunately, but I grabbed a picture: Real Estate Rage in Wuxi

Here's 2014, when it looked like the bubble might finally burst. Everything has been pushed back a decade and made far, far worse if this is indeed the bust: China Real Estate Rage Is Back; Ghost Cities Everywhere; Offshore Yuan Plunges; Talk of Falling Real Estate Prices Across China

This was my first real estate rage post from 2011. Home buyers in Shanghai angry at massive price drops, smash offices

More than a decade of this behavior thanks to the housing bubble requiring ever higher prices, insanely unaffodrable homes and developers need to move inventory to meet debt payments. Incredible to me that they did not deal with this in the interim. Instead here we are with the world economy holding its breath. Or at least, those in the world who are paying attention. Judging by the Nasdaq and social media, most of the U.S. doesn't care.