this post was submitted on 12 Mar 2024

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China's housing minister says real estate developers must go bankrupt if necessary (www.cnbc.com)

submitted 8 months ago by schizoidman@lemmy.ml to c/worldnews@lemmy.ml

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[–] realharo@lemm.ee 2 points 8 months ago* (last edited 8 months ago) (1 children)

But what is the actual real-world practical solution for those people?

Are they now just going to be broke (or even in debt) with no place to live?

[–] Alsephina@lemmy.ml 3 points 8 months ago

Someone buying an unfinished building likely already has a home. If they don't they can buy one for much cheaper now since housing prices have gone down cuz of the real estate bubble popping.