Will the year of the Linux desktop or China's housing collapse happen first?
It feels like China’s housing market has to collapse eventually but perhaps buying and holding real estate is as ingrained as buying and holding stock for retirement is in the US.
It just feels incredibly wasteful to have towers of empty apartments, but perhaps I am missing something.
I feel like it's the scale of China. It's apartment complexes empty totaling 4 million homes, sure, but with 1 billion people, say 200 to 400 million homes, that's 1 to 2% of the total. And 60 billion square feet is less than 20 square miles, so really that much in the scale of things.