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China's 1.4 billion population isn't enough to fill the country's empty homes, former official says
(www.businessinsider.com)
this post was submitted on 24 Sep 2023
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... isn't that the point?
It's a problem for people who indebted themselves to buy those homes with a valuation based on scarcity. Also a problem for the real estate Chinese companies, sector which represents a quarter of Chinese economy.
Too... bad? That's how investments work. They don't always pan out to make you richer.
Something tells me everyone investing in this can afford to take the hit. They're just gonna be mad they can't rip people off.
There are millions of ordinary Chinese taking an expensive mortgage now owning an unfinished apartment in a ghost town. It will hit the poorest the hardest - they still have to pay the mortgage, but can't even live in their apartments, because they are not finished.