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China built so much housing they actually have an oversupply problem and housing prices finally went down, which is good for the people at the bottom end that w
by ddxv 2y ago
China built so much housing they actually have an oversupply problem and housing prices finally went down, which is good for the people at the bottom end that want to buy housing. The people who bought as investments pushed back and now China is correcting back the other direction.
Interesting to see that play out and think about what kinds of housing we need to build to make it happen. Bay Area cities building a few 'below market rate' 6 story apartment buildings isn't going to cut it.
One other big factor to mention is that many places seem to ONLY sell what the US calls condos, ie each apartment is sold to an individual. I think this is a much better system.
- no_wizard 2y agoCondos in the US are broken and it’s largely due to how fees go up over time. Condo associations have been known to squeeze condo owners with increasing fees in the US. It’s why condominiums often have a bad reputation here. There’s little regulation on condo fees and what the associations can do with said fees too. There’s a lot of horror stories about mismanagement and you’re only a vote away from an association being good to being bad too. If condominium fees were predictable and the money spent required to be more transparent and disclosed I think it would go a long way
- crooked-v 2y agoFrom my experience with my own condo's board and looking at the numbers, it's more like a lot of condos are only now adjusting fees to what's actually needed for proper maintenance, after events like the Surfside collapse finally scared managers out of pushing the problem down the road.
- no_wizard 2y agoI know that not every condo association is like this but it didn’t take much looking for find horror stories[0]. [0]: https://coralspringstalk.com/coral-springs-police-investigate-ramblewood-east-condominium-board-amid-resident-allegations-of-mismanagement-53986 https://coralspringstalk.com/coral-springs-police-investigat... https://www.palmbeachpost.com/story/opinion/columns/2024/04/15/expensive-condo-repairs-threaten-to-force-owners-out-get-legal-advice/73288278007/ https://www.palmbeachpost.com/story/opinion/columns/2024/04/...
- crooked-v 2y agoIf you're talking Bay Area, the only thing that will ever make progress there is to fire the Board of Supervisors into the bay and make the entire permitting process 'shall issue' with no objections allowed from neighbors.