this post was submitted on 19 Mar 2024
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Gee it sure sucks that Evergrande collapsed. What a horrible sign for the Chinese economy!
I challenge you to look up any of those “ghost cities” now. Literally all are filling up. People really don’t understand planning and building for the future?
Not really future proof when they're being built with shit materials, you can literally crumble the concrete with your bare hands.
Imagine complaining about the build quality of Chinese apartments when your reference point is... American ones.
No sheathing, drywall on inner walls, barely any insulation, plywood only for the minimum necessary to guarantee wind stability... Pot calling the kettle black, really. You can literally run through walls of new builds in the US.
China builds housing for the market. While quality might be high in tier 1, 2 and even tier 3 cities, that's not going to be as true for tier 4 cities that are designed to absorb the massive rural-to-urban migration of poor farmers... The market doesn't demand it. You're kidding yourself if you think even the shoddiest constructed apartment isn't better than the average rural home which not only lacks building codes but lacks modern materials.
Their stock market, maybe. There is a reason this company imploded and it was because of their investor market, not real demand. Those ghost cities were the product of an investment housing market gone wild. Right now, it's the same failure mode, regardless of the country.
Can confirm, im a badly built house in China ghost town. My bad concrete hands crumbled after writing this