The Central Bank of China will use $42 billion to buy back unsold new buildings, which will then be converted into affordable housing.

☆ Yσɠƚԋσʂ ☆@lemmygrad.ml · 4 months ago

The Central Bank of China will use $42 billion to buy back unsold new buildings, which will then be converted into affordable housing.

KrasnaiaZvezda@lemmygrad.ml · 4 months ago

If they're buying these from capitalists then I hope they pay less for then than was paid originally so as to transfer some of that wealth to the deserving proletariat...

Sodium_nitride@lemmygrad.ml · 4 months ago

Since housing prices are down, I think they will. Although the point of the move was to help the profitable but insolvent developers get some cash flow and complete their existing projects.

rainpizza@lemmygrad.ml · 4 months ago

If only my mexican gov't were as based as China's, we will have done something similar. However, thanks to this news, I can now dream of an alternative.

The Central Bank of China will use $42 billion to buy back unsold new buildings, which will then be converted into affordable housing.

The Central Bank of China will use $42 billion to buy back unsold new buildings, which will then be converted into affordable housing.

PBOC to Provide $42 Billion Cheap Loans for Program to Buy up Unsold Homes - Caixin Global