/biz/ - Business & Finance

>>50934336
Insane Central Planning, and insane speculation, both kinda feed off each other pretty often as well. The more property prices go up the more money the local government makes so there incentivized to make these crazy cities, except the demand can be met with a town instead. Also since the value of houses only go up and the middle kingdom will never fall (again) plenty of people buy as many houses as they can to resell later since the average chinaman doesn't have much choice in investments. They often don't rent out these spare houses since that would lower the value. So often times you have whole apartment blocks that are completely empty but at the same time completely sold old. They even have 'apartments you can live in' and "apartments for investments.' Pretty nutty.