Monday, September 25, 2023

China's 1.4 billion population can't fill the country's millions of empty homes

The Business Insider reports:

There could be enough vacant homes in China to house up to 3 billion people, a former top China official said.

To put that number in perspective, that's nearly 10 times the population of the US.

And it's also 15 times the population of Western Europe, and 140 times the population of Beijing, the country's capital city.

These jaw-dropping numbers are based on the high ends of experts' estimates about the number of vacant properties in the country.

He Keng, a former deputy head of the National Bureau of Statistics, spoke on Saturday about the struggling housing market in China. When commenting on its vast oversupply of homes, He said some experts have suggested that these empty homes available in China would be enough to accommodate a whopping 3 billion people.

Would China change its' immigration policy to fill up that housing?