“We seem to have no way of resolving this issue," said a 38-year-old Shijiazhuang resident, who bought two still-unfinished units for more than $350,000 in 2017 and who asked not to be named.
The Shijiazhuang resident waiting for work to resume on the Central Plaza project said buying a new apartment in China was just too risky. He regrets not putting the money he committed to the project to buy a property in Tokyo or Osaka.
So is it just petty bourgeois that got fucked the most here? Homes as retirement/investment vehicles? Are these landlords? What's the deal here?
9
☆ Yσɠƚԋσʂ ☆ - 4w
There was a bunch of property speculation happening with well off people before the bubble was popped.
8
chgxvjh [he/him, comrade/them] - 4w
guarantee home delivery
This must be the collapse people have been predicting for over a decade.
yogthos in sino
Chinese state-owned developers and local governments have taken over some stalled projects under a government-run "guarantee home delivery" policy.
https://www.reuters.com/business/uneven-path-finish-evergrandes-abandoned-housing-chinese-city-2024-02-02/So is it just petty bourgeois that got fucked the most here? Homes as retirement/investment vehicles? Are these landlords? What's the deal here?
There was a bunch of property speculation happening with well off people before the bubble was popped.
This must be the collapse people have been predicting for over a decade.