3 ms·
The same day we have an article about a Chinese property company going bust who overdeveloped. All that sand is just sitting there in those buildings now.
by catherinecodes 3y ago
The same day we have an article about a Chinese property company going bust who overdeveloped. All that sand is just sitting there in those buildings now.
- bboygravity 3y agoThey didn't just over develop. There's a nation-wide real estate investment ponzi going on in China. Literally building uninhabitable towers for the sole purpose of being a counterfeit "deliverable" of "real estate" as an "investment". It's a financial markets regulatory problem, not a "we accidentally built too much useful real estate" problem.
- ProllyInfamous 3y agoMany youtube videos demonstrate how crappy these deliverables can be built. "Tofu Dregs" is how this building method is referred, for anybody searching.