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Actually housing could be a good investment and affordable. It just can’t be both in the same place. If we continued to make new cities with tons of housing and
by justin 7y ago
Actually housing could be a good investment and affordable. It just can’t be both in the same place. If we continued to make new cities with tons of housing and accepted that all the people who couldn’t afford housing should move there, we could accomplish both goals.
For the record I think this is a terrible idea.
- smt88 7y ago> make new cities with tons of housing China does this. It doesn't work. 1. https://en.wikipedia.org/wiki/Under-occupied_developments_in_China https://en.wikipedia.org/wiki/Under-occupied_developments_in... 2. https://www.abc.net.au/news/2018-06-27/china-ghost-cities-show-growth-driven-by-debt/9912186 https://www.abc.net.au/news/2018-06-27/china-ghost-cities-sh...
- apexalpha 7y agoWhat percentage of new housing in China would fall in the 'ghost-city' category now? People tend to forget there are 1,6 Billion Chinese. 10 cities failing in the last 10 years would be a low percentage.
- smt88 7y agoI think the relevant question is, "When China builds a brand new city in an area that isn't currently desirable to live in, do people move there?" The answer seems to be no. People want to live where friends, family, jobs, history, and culture already exist. It's not like low rent is still valuable to someone when everything else in their life is awful.