@nytimes reporter covering China and Asia, but mostly China. Got a tip? alexandra.stevenson@nytimes.com GPG
: 2E59 A14F 698F EBBA https://keybase.io/jotted
Je kan informatie over je locatie aan je Tweets toevoegen, bijvoorbeeld je stad of exacte locatie, via het web en applicaties van derden. Je kan altijd de locatiegeschiedenis van je Tweets verwijderen. Meer informatie
We went Jurong, a small city outside of the former capital of Nanjing, with a population of 600,000 mostly retired workers and farmers. Our first impression was that Jurong was preparing for a population twice its current sizepic.twitter.com/FMnYCqdryM
We met Hu and Wang, two young real estate agents who moved to Jurong last year because they thought a property boom in Nanjing would spill over to Jurong. (here they are locking up their offices before taking us for a drive around town.)pic.twitter.com/uvYuBq82yr
Instead the market has cooled and Jurong is stuck with hundreds of half built apartment buildings. One complex we drove past called Yudong International straddles several blocks and will have 120 buildings when it is done
When we asked who was going to live in all these new apartments, Hu paused. "I was wondering that myself," he told uspic.twitter.com/qWdb01FNlw
We left wondering if Jurong was an anomaly. Then we talked to some experts. One professor has been working on a study of unoccupied urban housing. He told us 65 million apartments sit unoccupied across China
That has some people worried. One economist called the prospects for the market "grim” and warned that it is China's "biggest gray rhino"
Twitter is mogelijk overbelast of ondervindt een tijdelijke onderbreking. Probeer het opnieuw of bekijk de Twitter-status voor meer informatie.
