Counterpoint: China — a country building more housing than anybody, yet having the most surreal housing crisis.
The country had at some point 20% vacancy of the total housing stock. And of course, a typical Chinese city is packed with if not skyscrapers, then highrises.
You need of course factor in Chinese peculiarities, main being the real estate being a feeding lot for corrupt officials, and land lease sales being that big of a revenue source for the local governments.
The country had at some point 20% vacancy of the total housing stock. And of course, a typical Chinese city is packed with if not skyscrapers, then highrises.
You need of course factor in Chinese peculiarities, main being the real estate being a feeding lot for corrupt officials, and land lease sales being that big of a revenue source for the local governments.
reply