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China Rejects $1 Trillion Housing Rescue Plan Pitched by IMF (www.bloomberg.com)

submitted 10 months ago by [email protected] to c/[email protected]

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[–] [email protected] 1 points 10 months ago (1 children)

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.

[–] [email protected] 6 points 10 months ago* (last edited 10 months ago)

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.

There are people who took out loans to buy pre-construction apartments with plans to live there, who are now in trouble.

mostly foreign speculators, what's wrong with having them lose money?

There are people who took out loans to buy pre-construction apartments with plans to live there, who are now in trouble.

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