I don't necessarily agree with everything in this thread but I do feel like the high emotions around housing mean that this is one of the areas where people spit the most fiery takes with the least amount of thought into details and consequenceshttps://twitter.com/BootlegGirl/status/1254645160467709953 …
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Obviously the housing market doesn't move as fast on a day-to-day basis as buying bushels of potatoes or wheat but yes, wasted labor on empty houses is a thing Abandoned developments and ghost towns are very much a thing
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Also check out Michael Hudson for a super smart economist who knows a lot about China/America and teaches at Peking U
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