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China's 1.4 billion population isn't enough to fill the country's empty homes, former official says
(www.businessinsider.com)
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this post was submitted on 24 Sep 2023
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That doesn't actually mean there are 65 million surplus properties. A vacant house isn't an unnecessary house. Children move out all the time, families sometimes break up, Chinese citizens currently living overseas or in Europe return home, etc.
I bet there's actually math for this - I wonder if anyone has calculated the optimal amount of vacancies?
Is anyone? If I have to choose between "housing shortage" and "housing surplus" I know which society I would prefer.
They're also building hospitals and schools so...
China isn't really limited by construction resources. There's a heavier constraint in terms of hospital staff and teachers than there is on construction resources.
Sometimes, you misspeculate. Some developers lost a whole fuck ton of money on the project, but that's more than made up for if you can turn a profit on projects near big cities (which demand is still sky high for).