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>sell apartments before they are even built
>once built, it's just a concrete box
>don't even bother decorating it further, because that would lower it's value, since customers have a superstition not to use any old things in a living space
>Massive Real Estate Bubble
>Over 90 million homes sitting empty
>Land can never be owned privately, only leased for ~70 years by government, at which point it's anybody's guess whether the government will approve another lease and for how long and how much
>Most developers prioritize short-term profits to the detriment of build quality
>Most Chinese still buy and sell shithole overpriced apartments like hotcakes
>Xi implements Three Red Line policy to reign in power of property companies like Evergrand
>$300k will still barely get you a shithole closet on the tenth floor of a city tower, and who knows how long you can actually live there before the land lease is revoked or the building collapses
>All Chinese believe newer is better in terms of home quality
>Yet also believe the in-door wall paint is most toxic in the early years, after 10 years is best
