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Local government and companies have borrowed way too much based on real estate value that a crash would be allowed to happen based on what I have read, as it wo
by unimportant 12y ago
Local government and companies have borrowed way too much based on real estate value that a crash would be allowed to happen based on what I have read, as it would have much broader implications than in the US.
Rents in Shanghai have remained mostly stagnant from what I've seen for the last 2 years, so it's good for tenants.
- seanmcdirmid 12y agoRents at the high end are completely stagnant, which is why those new apartments aren't being renovated. Not having a property tax leads to hoarding and not putting property to productive use, which screws everyone but the princelings.