PolyMatter
3 HN recommenders · recommended in 4 months, 2018–2022
12:30 · 4.5M views · Dec 14, 2018
PolyMatter explains China's housing bubble and why around 50 million homes sit empty. It covers cultural and economic reasons behind the overbuilding and the government's bind.
Recommended as a clear, compact explainer on China's empty homes, ghost cities and property troubles.
4 comments from Hacker News
I was befuddled by what's been going on there. So earlier today I watched this [0], it explains clearly (for a complex situation) what's been going on in China's real estate, the 'ghost cities' and the demolitions. Below that,[1] a recent look at a 'ghost city' by two western bikers. [0] this video [1] [LINK]
You might be surprised to learn why there's excess housing. Young men who are courting a lady need two or three houses to have any chance of winning her hand: Why 50 Million Chinese Homes are Empty - this video
I watched a really nice 12 mins video[0] on this topic only yesterday. I haven't fact checked it though. [0] this video
China builds useless buildings/cities because it raises the GDP and because it's often the only viable way to raise funds for local governments. The Chinese people invest in useless buildings because it is often the only viable way to invest your savings. Some of the useless buildings built for buildings sake will potentially be filled as people move from rural areas, but a lot won't. this video