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that's one way to grow the economy. like bridge to nowhere in the USA. the big difference is that those apartments can be sold later on while bridges to nowhere are just like that.
crisis in Chinese also means opportunity. im sure there are already enterprising Chinese who are just waiting for the govt/developers to sell these apartments at bargain prices
Chinese people do not like to rent. They will buy as soon as they can.
In America I see people in their 40s still pay rents, which is very rare in China.
Chinese people do not like to rent. They will buy as soon as they can.
In America I see people in their 40s still pay rents, which is very rare in China.
that maybe true but if you are to choose with lower rent versus higher monthly amortization? and you are just starting with a family? those who can will buy and those who cant will rent..thats just the way it is whether you are Chinese or not
that maybe true but if you are to choose with lower rent versus higher monthly amortization? and you are just starting with a family? those who can will buy and those who cant will rent..thats just the way it is whether you are Chinese or not
In China, the parents usually help with the down payment. American parents usually do not.
Over the past 15 years China has built hundreds of new cities, expanded thousands of urban areas, wiped over a million villages off the map, and urbanised hundreds of millions of people. It’s a development boom that’s incomparable to anything that any other country has ever attempted.
I didn't know this. Interesting. Did they force people away from villages?
I didn't know this. Interesting. Did they force people away from villages?
They pay the villagers(拆迁费）, or give them a new apartment for free (还房）. Many people get rich that way.
Of course, some villagers still refuse to move for many reasons, and things can get ugly then.
In China, land is owned by state. Citizens only own the building not the land.
it is easy to solve this problem if the govt arrange some school<of course good reputation school> with better teachers and famous , convenient malls. lots of people will choose to live in this apartments for their children's better life
that's one way to grow the economy. like bridge to nowhere in the USA. the big difference is that those apartments can be sold later on while bridges to nowhere are just like that.
crisis in Chinese also means opportunity. im sure there are already enterprising Chinese who are just waiting for the govt/developers to sell these apartments at bargain prices
Having unoccupied dwellings is not a good usage of capital, it's a drain. Land does not depreciate, the structure on the land does just like machines and automobiles. If they are not expensively maintained they degrade - they get vandalized ,they receive damage from storms and other natural disasters, they become overgrown with vermin, fungus, plants, they literally crumble and collapse eventually, they burn, they become uninhabitable and require complete destruction and tear-downs. Oh yeah, they will sell them at bargain prices all right, usually the cost of the land minus the cost to tear down the structure.
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