I saw a video on Reddit showing the demolition of dozens of vacant high rise buildings in China. In addition to what you might expect, the comments alleged a “Ponzi scheme” in the housing market, and that some were still paying mortgages on the destroyed buildings. Any idea what’s happening on that front?

  • @jay91
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    52 years ago

    If the buildings were faulty, then handing them over to unassuming inhabitants is plain murder.

    In this case, i completely agree with you, this makes sense.

    What i meant is maybe the contractor is unable to complete the project for financial reasons. i saw such a case in middle east, the contractor went bankrupt, the government decided to take the project and give it to the people who paid for the apartments, and supported them with long term loans to complete these apartments.