See also here:
https://www.inkstonenews.com/business/inkstone-index-empty-homes/article/2180107
INKSTONE INDEX: CHINA’s EMPTY HOMES
If you build them, they will come
and, the truth is, they have come
A great example why command economies fail. A terrible misallocation of resources.
You’d think with a billion people, China would be facing a housing shortage? Nah...
This can’t be correct.
We keep hearing how the ChiComs out plan us in every way.
Supposedly, they have planned their housing decades beyond us.
Great. Let’s send them some of our homeless!
Maybe we should cut a deal with China to send them the “refugees” invading the US
Send them allah the refugees!!!!
Those places are very shoddily built and have structural problems and cracks within a couple years of being built.
Those empty cities look like replacements for ones that will get nuked.
Better yet, we load them up with homeless people and return the cargo ships to China fully loaded. Empty Chinese home problem solved.
Call Zuckerberg, Dorsey, Obama, perhaps they can run that city on UBI...nice social experiments waiting to happen! Solient Green anyone?
I had read somewhere that the people who have extra money cannot send it abroad for safe keeping, and that investment options within China are very limited - but they can use that money to build housing, even if not needed.
Pretty much the same thing as our 2008 housing bubble.
Tell it to the middle Eastern and African Invaders plaguing Europe. There’s empty housing in China.
Residential justice!
If you take the populations of Montana, Idaho, Wyoming, South Dakota, North Dakota, Kansas, and Nebraska they could easily fit on Long Island. However controlling that population when spread out over one million + square miles is all but impossible. China wants to concentrate its population.
One fifth, (20%) of urban housing in China, is empty.
China has about 1.39 billion people. The urban population is about 57% of that, or 813 million. If they take up 80% of urban housing, then there is about enough empty housing for 203 million.
There are about 576 million people in Rural China.
Still, that is a tremendous mis-allocation of resources.
The U.S.A has a rural population of about 19%.
If China is apeing the U.S., and they moved another 200 million into urban areas, they would have 27% of people in the rural areas.
I’m surprised their real estate bubble hasn’t burst yet. It will eventually. They all do. With a bubble that size, the pain in China is going to be severe and very long lasting. That’s much much bigger than our real estate bubble was.
The obvious answer is that China should take in all the Latin American “refugees.”
Instead of a wall, Trump should build a bridge between Mexico and China. Tell the Mexicans about “free housing” in China.
Send our illegals home and our Millennials will simply move out of their parents’ houses into their own places, which will become more affordable.