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by gruez
596 days ago
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>On other hand homelessness is rampant in USA/Canada and that's a major fail of the capitalism. Meanwhile in capitalist China[1], they're so great at building homes that there are entire cities with barely anyone living in them, "ghost cities". Insofar as a tight housing market contributes to homelessness, it's clear that it's caused by US/Canada specific factors (eg. NIMBYism, building codes, and environmental regulations) than capitalism. [1] Even though ostensibly it's "socialist with chinese characteristics", for all intents and purposes the real estate sector is capitalist. |
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but you are right that the capitalist market does restrict the supply of housing because people buy them as investments
also, the ghost cities is way overblown -- they just took time to fill up