this post was submitted on 03 Aug 2024
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if they bought the houses to live and not speculate, it doesn't matter
But the article is specifically talking about unfinished projects.
So you don't have a flat to live in either, you have an abandoned construction site.
Homeownership rate in China is over 95%
https://en.wikipedia.org/wiki/List_of_countries_by_home_ownership_rate
What kind of world are we living in where people who have no idea what they are talking about argue with absolute certainty?!
So where do all the renters come from?
https://www.yicaiglobal.com/news/a-quarter-of-china-city-dwellers-rent-survey-shows - same website that your wikipedia link lists as source
But none of that is relevant to the article of this post. That article talks about money to complete unfinished projects. It's in the very first paragraph. There are people who took out loans to buy pre-construction apartments with plans to live there, who are now in trouble.
China made the right move here. If you think the IMF is right show me homeownership rates in countries that did as the IMF suggested.
mostly foreign speculators, what's wrong with having them lose money?
you do know that homelessness and lack of affordability in many Western countries has nothing to do with the supply or demand? there are more empty homes than there are homeless people