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    13 days ago

    Didn’t China just had a huge crisis in the property market?

    • Cowbee [he/him]@lemmy.ml
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      13 days ago

      Property speculation crashed. It wasn’t a homelessness crisis, but an intentional popping of a speculative bubble because Capitalists got greedy and homes were too expensive.

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        9 days ago

        So China tried the same formula as the west than, let the capitalists steer the housing market?

    • ☆ Yσɠƚԋσʂ ☆@lemmy.mlOP
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      13 days ago

      Not really, the government wound down the real estate market intentionally to refocus the economy on tech and industry.

        • ☆ Yσɠƚԋσʂ ☆@lemmy.mlOP
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          8 days ago

          They acted to prevent an issue from developing. This is the whole purpose of having a government. It pays attention to what’s happening in the country overall, and guides the economy towards positive outcomes.

    • interdimensionalmeme@lemmy.ml
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      13 days ago

      It seems they overbuilt on purpose, which seems like a great idea if you care more about shelter for the population than the financial wellbeing of the speculators.

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        9 days ago

        Is there any data on homelessness in China? There’s entire cities built and standing empty so I suppose there could potentially be zero homeless people, but if they were built by capitalists than I suppose it wouldn’t be surprising if it followed the same pattern as in the west, with empty homes for people can’t afford?