“China’s Ministry of Housing asked local governments in hundreds of cities to “vigorously” buy unsold commercial homes and convert units into affordable housing for the working class.” -Ben Norton
“Isn’t it ironic that the Chinese housing bubble was cited across the West as a “failure” of the Chinese gov when it was in fact created by runaway private enterprise, only now being resolved by Beijing’s intervention…?” -Brian Berletic
I know people that had their rent increase an additional 500$ during Covid bc of the checks. For perspective, they were already paying like ~2200$ a month for a decent sized home.