China

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GrainEater@lemmygrad.ml

The Central Bank of China will use $42 billion to buy back unsold new buildings, which will then be converted into affordable housing. (www.caixinglobal.com)

submitted 6 months ago by yogthos@lemmygrad.ml to c/china@lemmygrad.ml

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[–] KrasnaiaZvezda@lemmygrad.ml 27 points 6 months ago (1 children)

If they're buying these from capitalists then I hope they pay less for then than was paid originally so as to transfer some of that wealth to the deserving proletariat...

[–] Sodium_nitride@lemmygrad.ml 15 points 6 months ago

Since housing prices are down, I think they will. Although the point of the move was to help the profitable but insolvent developers get some cash flow and complete their existing projects.