People from the cities are banned from buying property in the countryside, and people from the countryside can’t afford city property (banks are also banned from owning country property hence no mortgages). Until recently, property was the only asset people were allowed to inherit, so there was a massive construction boom.
That’s all collapsed so you have a stagnant market and millions of unoccupied or half-finished buildings, often of such poor quality they’re falling apart.
Thaaaat’s why there is so much under utilization of buildings!!
I watch a few travel vloggers, often in China, and there are always so many huge buildings that are just abandoned or extremely under utilized, like a 15 story hotel with several unfinished, unused, floors, or large complexes with no people.
People from the cities are banned from buying property in the countryside, and people from the countryside can’t afford city property (banks are also banned from owning country property hence no mortgages). Until recently, property was the only asset people were allowed to inherit, so there was a massive construction boom.
That’s all collapsed so you have a stagnant market and millions of unoccupied or half-finished buildings, often of such poor quality they’re falling apart.
Plenty of spaces to hide tons of money.
Thaaaat’s why there is so much under utilization of buildings!!
I watch a few travel vloggers, often in China, and there are always so many huge buildings that are just abandoned or extremely under utilized, like a 15 story hotel with several unfinished, unused, floors, or large complexes with no people.
Sounds like where the US is heading, NGL. I’m sorry if you’re stuck dealing with that IRL. 🙇🏼♂️