“China’s Ministry of Housing asked local governments in hundreds of cities to “vigorously” buy unsold commercial homes and convert units into affordable housing for the working class.” -Ben Norton
“Isn’t it ironic that the Chinese housing bubble was cited across the West as a “failure” of the Chinese gov when it was in fact created by runaway private enterprise, only now being resolved by Beijing’s intervention…?” -Brian Berletic
Won’t somebody think of those poor landlords? How will home owners cope with property that doesn’t increase by 10% per year?
Lol
Only 10%?I know people that had their rent increase an additional 500$ during Covid bc of the checks. For perspective, they were already paying like ~2200$ a month for a decent sized home.
Imagine living in a country where the sole prerogative of all policy isnt to increase property values so that the rich get richer
An actually GOOD COUNTRY
I keep saying this bc it’s true: China is where dreams become reality, and the west is where dreams go to die.
Affording/owning a home is a dream for so many people in the west. And that’s what it will stay as: a dream.
Honestly yeah!
Oh my gosh! This is wonderful! 👍 China actually cares for the people. ❤