MP Econ Issue 6: Why Is Housing So Expensive in Urban China?
macropolo.substack.com
America’s Silicon Valley and China’s Silicon Delta share a serious problem: housing affordability. For San Francisco, the astronomical price of housing may increasingly deter the very human capital on which the tech hub so desperately relies. Halfway around the world, Shenzhen too has transformed from a sleepy swamp that was once populated by farmers into a gleaming but exorbitantly expensive tech hub. Between 2014 to 2020, Shenzhen property prices have more than doubled,
It's communism and it's sick