Half right. I’d use Singapore or Vienna as the ideal housing model instead. China started off using housing as a financial instrument. People were pouring their life savings into 2nd and 3rd apartments because the stock market was unreliable & capital controls prevented investing abroad. Prices skyrocketed. Now the bubble has burst, and the state is desperately trying to pivot to the Singapore/Vienna model, where local governments buy and own unsold inventory. It’s not going so well.

https://en.wikipedia.org/wiki/Chinese_property_sector_crisis...

https://en.wikipedia.org/wiki/Public_housing_in_Singapore

https://en.wikipedia.org/wiki/Housing_in_Vienna

Of course none of this matters to the US or to this thread. Half this country won’t even wear a simple mask to save their neighbors lives. Forget about coordinating public housing.