China's 1.4 billion population isn't enough to fill the country's empty homes, former official says
camelCaseGuy @ camelCaseGuy @lemmy.world Posts 2Comments 42Joined 2 yr. ago
camelCaseGuy @ camelCaseGuy @lemmy.world
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No, that's an effect of collusion and cartelization of the economy. It's because you have very few actors supplying the product and the barriers of creating a similar product are too high, so new competitors cannot access the market. Then the current suppliers can sit on the product and wait for it to be at the right price, as long as it doesn't go to waste.
As you can see, all of this screens about real estate:
This is the time when governments should intervene and come up with a proposal to solve the cartelization.