China’s State-Driven Growth Model Is Running Out of Gas

Re:China’s State-Driven Growth Model Is Running Out of Gas by jdietrich on Thursday July 18, 2019 @02:11AM (#20467205)

A lot of "ghost cities" that were reported on in the Western press are now thriving communities. Although some major property development schemes do end up becoming white elephants (particularly in the poorer north), most "ghost cities" aren't abandoned, they're just in the process of becoming occupied. Properties in China are normally sold as a bare undecorated shell, which makes new developments look derelict to western eyes. Clearly many of these projects are of dubious quality, but that problem is by no means unique to China.

https://blogs.wsj.com/chinarealtime/2013/09/24/chinas-ghost-...

https://www.theguardian.com/money/2017/apr/02/new-build-home...

https://www.bbc.co.uk/news/business-47826166

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Re:China’s State-Driven Growth Model Is Running Out of Gas by realusername on Thursday July 18, 2019 @03:30AM (#20467593)

> Clearly many of these projects are of dubious quality, but that problem is by no means unique to China.

The cases I saw were more than dubious quality, the houses have completely fallen apart in only 2 years, there's definitely some "get rich quick" resell scam business going on in some places.

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Re:China’s State-Driven Growth Model Is Running Out of Gas by puranjay on Thursday July 18, 2019 @04:49AM (#20467980)

I really don't understand property prices at all. There's a new Trump Tower coming up in Gurgaon, India. There is nothing around it but other large towers and empty land. Yet all the apartments in these towers are already priced in the $400,000+ range - money that even a Google software engineer in India would need 20+ years to save.

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