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With over 600k homeless Americans, couch surfing and sleeping outside tonight, this is important to understand (lemmy.ml)

submitted 1 week ago by yogthos@lemmy.ml to c/socialism@lemmy.ml

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[–] Name@feddit.nu -4 points 1 week ago (3 children)

Didn't China just had a huge crisis in the property market?

[–] Cowbee@lemmy.ml 24 points 1 week ago (1 children)

Property speculation crashed. It wasn't a homelessness crisis, but an intentional popping of a speculative bubble because Capitalists got greedy and homes were too expensive.

[–] Name@feddit.nu 1 points 4 days ago

So China tried the same formula as the west than, let the capitalists steer the housing market?

[–] yogthos@lemmy.ml 17 points 1 week ago (1 children)

Not really, the government wound down the real estate market intentionally to refocus the economy on tech and industry.

[–] Name@feddit.nu 1 points 4 days ago (1 children)

Ah okey, so they acted on a non-issue than?

[–] yogthos@lemmy.ml 2 points 4 days ago

They acted to prevent an issue from developing. This is the whole purpose of having a government. It pays attention to what's happening in the country overall, and guides the economy towards positive outcomes.

[–] interdimensionalmeme@lemmy.ml 16 points 1 week ago (1 children)

It seems they overbuilt on purpose, which seems like a great idea if you care more about shelter for the population than the financial wellbeing of the speculators.

[–] Name@feddit.nu 1 points 4 days ago

Is there any data on homelessness in China? There's entire cities built and standing empty so I suppose there could potentially be zero homeless people, but if they were built by capitalists than I suppose it wouldn't be surprising if it followed the same pattern as in the west, with empty homes for people can't afford?