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1   Tenpoundbass   ignore (14)   2019 Jul 22, 8:25am   ↑ like (0)   ↓ dislike (0)   quote   flag        

China risks a Civil unrest, if they don't move people into their ghost Cities. If I were Xi, I would mandate people have to move into those Cities. I would hold lotteries of everyone not a Home owner. And if your number comes up, you have to move. The over crowding in their major Cities is not sustainable.
2   Iranian_Oil_Burse   ignore (5)   2019 Jul 22, 12:19pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Yeah, and "granny units"
3   OccasionalCortex   ignore (3)   2019 Jul 22, 12:40pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Tenpoundbass says
China risks a Civil unrest, if they don't move people into their ghost Cities. If I were Xi, I would mandate people have to move into those Cities. I would hold lotteries of everyone not a Home owner. And if your number comes up, you have to move. The over crowding in their major Cities is not sustainable.


Forget 'lotteries'. Just move millions of troublesome Hong Kongers there, no choice.

Of course, most of the buildings in Ghost Cities are not finished. In China, the developers sell unfinished buildings and the buyers pay to finish them (the interior walls and finishing, etc). And those semi-open buildings have been rotting there for years, too.
4   Tenpoundbass   ignore (14)   2019 Jul 22, 12:46pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

OccasionalCortex says
Of course, most of the buildings in Ghost Cities are not finished. In China, the developers sell unfinished buildings and the buyers pay to finish them (the interior walls and finishing, etc). And those semi-open buildings have been rotting there for years, too.


Yep the biggest problem is they built enough RE stock to sell every person in China a housing unit that wants one. The only problem is, they are still demanding America's 2005 RE bubble prices for them. That's how China avoided the Economic downturn of Housing Collapse. Even though most did not sell, they are baked into their GDP as if they did.

It's going to be a shame if they let them all rot away. It's been over 12 years for may of them.
5   OccasionalCortex   ignore (3)   2019 Jul 22, 4:23pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Tenpoundbass says
Even though most did not sell, they are baked into their GDP as if they did


1) only once, when they were built. Housing can only recur in additional GDP when it is rented out, not as an act of consumption. Mortgage payments is not housing...it is debt. Even GDP calculations recognizes this.
2) that is why their GDP figures are not trusted. Well, one of the reasons anyway.

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