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Tell that to china https://news.ycombinator.com/item?id=19171099 https://news.ycombinator.com/item?id=19171099 They have something like 65 MILLION excess, unus
by throwaway2048 8y ago
Tell that to china https://news.ycombinator.com/item?id=19171099 https://news.ycombinator.com/item?id=19171099
They have something like 65 MILLION excess, unused apartments, almost exclusively targeting the luxury market (because they are created and valued as investment first, housing second), and they still have extreme affordability issues.
Building more housing is absolutely not a complete solution.
- whatok 8y agoI really don't think it's fair to compare China's housing policies to the United States' policies as they couldn't be more different.
- throwaway2048 8y agoOf course there are differences, merely pointing out if building more housing, even building more housing to an almost comically absurd extent solved affordability issues by themselves, China wouldn't have them.
- whatok 8y agoI still don't see your point. No one acts as if housing supply is a magical fix-all to affordability. Almost all housing issues in America are caused by multiple factors and New York is no different.
- manfredo 8y agoMuch of those houses in China are not built in desirable cities but in ghost town that have little to no people living in them. There aren't million of chronically vacant units in Shenzhen. One could just as easily point to vacant houses outside Detroit. Housing isn't just about the number of houses in a given country. It's about having available housing where the demand is growing.