Property speculation crashed. It wasn't a homelessness crisis, but an intentional popping of a speculative bubble because Capitalists got greedy and homes were too expensive.
It seems they overbuilt on purpose, which seems like a great idea if you care more about shelter for the population than the financial wellbeing of the speculators.
Didn't China just had a huge crisis in the property market?
Property speculation crashed. It wasn't a homelessness crisis, but an intentional popping of a speculative bubble because Capitalists got greedy and homes were too expensive.
Not really, the government wound down the real estate market intentionally to refocus the economy on tech and industry.
It seems they overbuilt on purpose, which seems like a great idea if you care more about shelter for the population than the financial wellbeing of the speculators.