Sold a false dream: Inside China's derelict housing developmentsnews.sky.com/story/inside-chinas-derelict-housing-developments-and-the-bleak-reality-for-families-13181026
406 sats \ 7 comments \ @south_korea_ln 20 Jul Construction_and_Engineering
Thousands of homes are sitting empty after developers ran out of money - despite families in China investing. One couple tells Sky News how they're in a financial black hole and struggling to recover amid the crisis.
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I asked Tony, not his real name, if he felt the government had sold him a false dream about China. "Exactly, it was not realistic at all," he replied. "I'm very worried about the pressure of life, about the apartment. This is unliveable. I feel I was lied to."
Lots of house poor people here too in Korea...
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0 sats \ 0 replies \ @Coinsreporter 21 Jul
China has sold so many false dreams to its people! This isn't limited to Housing! I only wonder if it has been the case in a democracy, there would have been a great revolt against government!
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0 sats \ 0 replies \ @Msd0457890 21 Jul
They are difficult and sad situations, but it is truly helpless to know that there are homeless people and disused properties is something that no one can imagine.
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0 sats \ 2 replies \ @SatsMate 21 Jul
What I am struggling to understand with housing (it has always perplexed me), is how do we have so many homeless people in this country, when vacant properties?!
With 2.3M vacant homes in the U.S. and 550K homeless people, every homeless person can get four homes. Why do we have a homeless problem in this country. This gets me heated - everyone should be able to have a home, but due to the manipulation of money, things are propped out to leave countless people out of getting a place.
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72 sats \ 1 reply \ @zuspotirko 21 Jul
The vacant homes are in rural places in flyover states. The places where demand dwarfs supply are cities. Homeless people primary problem is money to survive - which is easier to get in cities.
If you could magically house all homeless people in these homes, the owners wouldn't see a dime in rent and the previously homeless would starve without income for food.
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50 sats \ 0 replies \ @SatsMate 21 Jul
This is a good point, but I think there could be a better pathway. For example I live in a 1 bed 1 bath condo, and my rent is $1100 a month in South Scottsdale.
I have the money and capabilities to move up in housing to a 3 bed 2 bath house, but I don't because valuations are inflated and interest rates are neck snapping. When I don't move up in housing, someone lower in the totem pole can't move into my 1 bed 1 bath.
People being locked into their situations is what in my opinion can contribute towards a bad pathway for getting a place to live in.
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0 sats \ 0 replies \ @OT 21 Jul
Its Interesting to watch this play out. In Australia there's a housing crisis in that there aren't enough available. It pushes up property prices and rent.
If both governments could work together they could put Australians into these empty apartments and it would ease the situation for both countries.
Of course this will never happen.
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0 sats \ 0 replies \ @Satosora 21 Jul
This is what happens when you get greedy.
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