Chinas popped real estate bubble: Farmers plow fields between ruins
2383 sats \ 12 comments \ @zuspotirko 22 Jun econ
What truly Zelda-esque postapocalyptic imagery. Sad but beautiful and poetic
There are more pictures on Architectural Digest: https://www.architecturaldigest.com/story/the-story-behind-the-many-ghost-towns-of-abandoned-mansions-across-china
The story of this economics is quite clear. Chinas blind command economics can't project demand and bubbles pop. The free market makes use of what got left behind
I almost posted this to ~photography because I like the aesthetics of this so much. I like it when photos also 1. tell a story inside the photograph and 2. are witness to personal life stories and 3. are witness to history being made before our eyes. This hits all boxes. So cool.
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113 sats \ 0 replies \ @JesseJames 22 Jun
Love it, at least cattle can be housed in a safer barns...lol
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5 sats \ 0 replies \ @Coinsreporter 22 Jun
This shows the most idiotic decision made by a government that wants to show itself as the most far sighted..
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5 sats \ 0 replies \ @TheBTCManual 22 Jun
Lol those are some hella fancy grain silos
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5 sats \ 4 replies \ @Undisciplined 22 Jun
In 20 years, the idea that China was going to overtake the West will look as silly as the idea that the Soviet Union was going to.
I share your feelings about the photos. It epitomizes how people continue to strive and produce, despite the ridiculous constraints they face.
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21 sats \ 1 reply \ @sudonaka 22 Jun
Now look at Baltimore
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0 sats \ 0 replies \ @Undisciplined 22 Jun
I'd rather not
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21 sats \ 1 reply \ @zuspotirko OP 22 Jun
Some people still remember how it was a mainstream opinion to speculate on Japan becoming the biggest economy on earth back in the day
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5 sats \ 0 replies \ @Undisciplined 22 Jun
Exactly, and Japan had far more functioning market mechanisms than China. Still, Japan is a more controlled economy than much of the West and it's correspondingly a little bit poorer.
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0 sats \ 0 replies \ @Satosora 23 Jun
Look at all that free estate. Can you imagine what they are telling the chinese people? lol
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0 sats \ 0 replies \ @16d86e9daa 22 Jun
The Chinese property sector crisis is a current financial crisis sparked by the 2021 default of Evergrande Group. Evergrande, and other Chinese property developers, experienced financial stress in the wake of overbuilding and subsequent new Chinese regulations on these companies' debt limits.
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0 sats \ 0 replies \ @SatsMate 22 Jun
At least China should never have a homeless problem. Can't they bring in immigrants to fill them at least? :D
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0 sats \ 0 replies \ @jeff 22 Jun
Those are crazy photos.
So many questions.
  1. What would have been the cost of these homes to develop?
  2. What kind of person can afford a house like that, but also wants to live 20 feet from their neighbor?
  3. Isn't it super inefficient to farm like that? Which means, the land much be trading at a discount to the same size of nearby regular fertile land.
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