[dirtyid]

Baseline PRC unemployment is 5%. CNN cherry picking some interviews of milleninials in tier1 cities who don't want to work hard, i.e. not do well compensated manufacturing jobs because it's manual labour... or women getting discriminated against for being old (who btw will have a house waiting for them as part of marriage package) illustrates what? Either way, article talks about urban subjects, who by definition are already urbanized and already home owners.

The TLDR is PRC urbanization strategies isn't targetted at tier1 cities, it's targetted at tier 2/3/4 cities. They don't want tier1 cities getting denser, they want density to spread, especially to increasingly developing interior provinces and where most of the new industry hubs are being situated. Incidentally, a lot of the extra shit potential speculative RE is happening in this area. There's plenty of rural people from these regions that PRC is trying urbanize but being priced out due to richer tier speculators driving up prices.

[clouddrover]

Ah, so it will be fueled by Belief, not bitter reality.

[dirtyid]

lol wut, reality is PRC urbanization is increasing at 1-2 percent per year. Housing sales are down by 1/3 due to RE crackdown, but they haven't stopped. Speculators have stopped buying, people who need a house to live in / urbanize are still buying. Useful idiots are pretending entire RE market is destroyed, but it's just less than what it was.