viking@infosec.pubtoWorld News@lemmy.world•China’s glut of idle property causes headache for the governmentEnglish
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4 months agoI live in China. Trust me, you don’t want to have those homes in the US. The house I live in has been completed in 2016 and I’m the first tenant, moved in in 2018, and it’s got more issues than my dad’s house from 1965. Houses here are built as cheaply as possible, skimping on building materials, safety, plumbing, insulation, wiring, etc.
The pricing bubble is just a joke on top. The actual value of the real estate here should be about 20-25% of what it is in reality - for example if I were to buy the house I’m renting right now, I’d break even after 114 years. Not taking any repairs or interest into account.
Oh true, my dad’s house that I used to compare the ones in China to is in Germany.