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China's Ghost Cities

Sleepninja MOD
"Vast cities are being built across China at a rate of ten a year, but they remain almost uninhabited ghost towns. It's estimated there are 64 million empty apartments."



Just watched this video and found it really interesting. What are your thoughts?
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Crazy4You
I'll watch the video later (tomorrow morning), but I do find that crazy! 64 million empty apartments??? If they have that many empty houses it's crazy to think there are people without homes and are suffering. It's ridiculous!
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bokami
woaw...!
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Sleepninja MOD
Yeah and the cost for these apartments is outrageous! No wonder they aren't occupied. they are asking for prices that are 10x higher than the average person makes. Which is sad because a lot of people are living in run-down, decrepit houses.
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Crazy4You
Sleepninja wrote: Yeah and the cost for these apartments is outrageous! No wonder they aren't occupied. they are asking for prices that are 10x higher than the average person makes. Which is sad because a lot of people are living in run-down, decrepit houses.


That's ridiculous! What's the point in building these homes if no one can afford to live in them? It's a waste of resources for one and there are people out there that could do with a new home...
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Sleepninja MOD
Crazy4You wrote: That's ridiculous! What's the point in building these homes if no one can afford to live in them? It's a waste of resources for one and there are people out there that could do with a new home...

The reason is "for economic growth" and apparently it's working really well right now, but an analyst says that it's gonna be a very bad thing in the long run. That it will make the situation worse eventually or something like that. But the government is only interested in growth and don't seem to be considering what possible consequences there might be. I only partially understand what's going on. /me is not very good at understanding economics and such.
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Crazy4You
Sleepninja wrote: The reason is "for economic growth" and apparently it's working really well right now, but an analyst says that it's gonna be a very bad thing in the long run. That it will make the situation worse eventually or something like that. But the government is only interested in growth and don't seem to be considering what possible consequences there might be. I only partially understand what's going on. /me is not very good at understanding economics and such.


/me isn't good with economics either, but it doesn't sound like it's a good thing at all!
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Sleepninja MOD
Crazy4You wrote: /me isn't good with economics either, but it doesn't sound like it's a good thing at all!


haha No, it doesn't. =__=
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bokami
watched it twice...n im like wth!!
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Sleepninja MOD
bokami wrote: watched it twice...n im like wth!!


I know! I'm still like WTH!
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LaVa
UNBELIEVABLE!!! It drives to credit peak & homeless matter soon to be appear, cuz no house can't be bought.

House price : annual wage = $100.000 : $6.000. So need more than 16 years saving, without spending a cent to get a house.
That impossible cuz the apartment need to be paid in 3 years time.

In 20x20 meters there are 10 households. 1 household = 2 persons. Total 20 persons in 20x20 meters house.

That's shocking! ಠ_ಠ
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Sleepninja MOD
LadyVioletta wrote: UNBELIEVABLE!!! It drives to credit peak & homeless matter soon to be appear, cuz no house can't be bought.

House price : annual wage = $100.000 : $6.000. So need more than 16 years saving, without spending a cent to get a house.
That impossible cuz the apartment need to be paid in 3 years time.

In 20x20 meters there are 10 households. 1 household = 2 persons. Total 20 persons in 20x20 meters house.

That's shocking! ಠ_ಠ

I know! It's completely ridiculous and unfair. It's gonna hurt them in the long run too. They will have all these empty cities with no one living in them because it's not affordable. The economy won't stay prosperous if there are no businesses or people to shop in those businesses, am I right? Also they are demolishing the older neighborhoods that people can afford to live in so that they can build these empty cities. In other words their population of homeless people is going to increase significantly. There will be lots of people living on the streets. How can that be considered progress?

My mind is blown by their stupidity. And I'm not even smart when it comes to things involving money and economics. It's just this seems like common sense to me. Apparently their government doesn't have much common sense. SMH Not that I'm trying to insult China or anything, I just don't agree with what their government is doing.
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LaVe
If they still want the price sky high, they should have better credit plan for housing in long term like decades payment, but credit/mortgage mean principal & interest monthly installment ought to be paid, means higher than the net price on-sale.
Outrageously pathetic development plan (╥﹏╥)
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Grumpy Witch VIP
LadyViolette wrote: If they still want the price sky high, they should have better credit plan for housing in long term like decades payment, but credit/mortgage mean principal & interest monthly installment ought to be paid, means higher than the net price on-sale.
Outrageously pathetic development plan (╥﹏╥)


So they have to fully pay for it in less than 3 years with prices like those?
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LaVe
LisNoir wrote: So they have to fully pay for it in less than 3 years with prices like those?


If you saw the vid yup they must, mostly apartment or condo ought to be paid in full during 1.5 year - 3 years monthly installment time period.
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