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China right now. Massive real estate crisis brewing. Local government in China is funded by land sales, which encouraged rampant speculation.
by cm2012 3y ago
China right now. Massive real estate crisis brewing. Local government in China is funded by land sales, which encouraged rampant speculation.
- the_optimist 3y agoPerhaps, though this potential Ponzi has been brewing for nearly two decades. If they grow out of it, it’s definitionally not a Ponzi.
- onlyrealcuzzo 3y agoHard to grow out of it when they already have more built sqft per person than Europe, and they're projected to have about half the population in 60 years...