profcarroll, 
“Apartments in China are commonly delivered by builders without amenities like sinks and washing machines, or even basics like closets or flooring. Because rents are so low, many investors have not bothered to finish apartments over the past decade, holding newly built but hollow shells in the expectation of flipping them for ever-higher prices. By some estimates, Chinese cities now have 65 million to 80 million empty apartments.” #Deflation https://www.nytimes.com/2023/08/22/business/china-economy-property.html?unlocked_article_code=zAmdNSiFgmN0EUrx6ewptRoxTwjanu8UWoEeMx9c_Zatj5rFYErMxibPZuyefTeORZd-Up2MM0t_FEdp3HtR52PbKhA4Wo8jiLtQ-OliiKqaNVx70uY4QOY2SWbwYov7F1M0m2-LWUz0PO_23HI-Fc6qHO91hPbnyLtSV0nL6cIdO4_X6I_O9fV7GkFXtDVrgjuK8X1jAZSFlvSUt6IRLBzV42DplNeLVtwGjdxNM-uH0bnZ8VaJEuJfn7jno8ywf1QOwqHiz0lo2tdrpMBaFXLdyI2lhBYy9_xjwWYhnHXzbFzlfyBxUY3PlBl6mXKPTHyet0W91szpJm4ZUbAiApw&smid=nytcore-ios-share&referringSource=articleShare
