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by srackey
776 days ago
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It doesn’t fix anything. Rents in major cities like Shanghai or Shenzhen are proportionally pricier than even the priciest American metros. All these ghost houses are in places no one wants to live. On the same note, rent is pretty damn cheap in Toledo, Ohio. |
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Most of vacant units / under occupied development areas are where people fine with living, even speculative RE purchases has to factor in location to maximize returns. Hence empty units largely located just outside of ring roads of "city" where many people live, but rent between "decent" area and "prime" urban area is huge = many owners speculating on equity growth don't even bother to rent since ROI of rentals in these areas are very bad.