Didn’t China just had a huge crisis in the property market?
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.
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?
Not really, the government wound down the real estate market intentionally to refocus the economy on tech and industry.
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.
