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China’s “Silicon Valley” has the same issues as America’s version
Posted on 12/22/20 at 10:14 am
Posted on 12/22/20 at 10:14 am
LINK
quote:
Workers Flocking to China’s Tech Hub Can’t Afford to Buy Homes Shenzhen’s boom has led to the highest property prices and lowest home ownership rates in China
quote:
Hu Jinjin stood for five hours outside a housing project showroom in the August heat, looking to buy a two-bedroom apartment two hours from downtown Shenzhen. The 3.6 million yuan ($550,000) asking price made it one of the city’s most affordable options and would still be a stretch for Hu and her taxi-driver father, but they were eager to get a foothold in China’s least affordable city.
quote:
Yet the boom has led to the highest property prices and lowest home ownership rates in China, a warning for the country’s other growing cities. The average two-bedroom unit now sells for about $900,000, in a city with per capita income of just $20,000. With the cost of an apartment equal to 43.5 times a resident’s average annual salary, Shenzhen’s housing affordability is only a notch better than Hong Kong, the worst among 80 megacities, according to E-House (China) Enterprise Holdings Ltd., a real estate firm.
This post was edited on 12/22/20 at 10:18 am
8
Posted on 12/22/20 at 10:18 am to RedRifle
Posted on 12/22/20 at 10:59 am to RedRifle
I’d rather be a country boy anyday
Posted on 12/22/20 at 11:02 am to RedRifle
To be fair, California is doing its part to open up space by running businesses out of Silicon Valley.
Posted on 12/22/20 at 11:02 am to RedRifle
Posted on 12/22/20 at 12:07 pm to Tshiz
quote:
I’d rather be a country boy anyday
A country boy can survive (in the rice paddies)
Posted on 12/22/20 at 12:46 pm to RedRifle
quote:
A country boy can survive (in the rice paddies)
We can skin a rat, we can tow the party line
A chinaman can survive
Posted on 12/22/20 at 1:00 pm to RedRifle
quote:
The average two-bedroom unit now sells for about $900,000, in a city with per capita income of just $20,000. With the cost of an apartment equal to 43.5 times a resident’s average annual salary
This doesn’t add up to me
Posted on 12/22/20 at 1:12 pm to RedRifle
“Learn to code” they said.
Posted on 12/22/20 at 1:37 pm to RedRifle
China is a-hole.
Posted on 12/22/20 at 2:10 pm to Tshiz
quote:
I’d rather be a country boy anyday
I can code an app all day long I can type java script from dusk til dawn....
Posted on 12/22/20 at 2:22 pm to RedRifle
I thought this article was going to say there is an influx of American techies taking over Huawei and outworking the Chinese kids in school
Posted on 12/22/20 at 2:47 pm to BorrisMart
quote:
I can code an app all day long I can type java script from dusk til dawn....
Not as good as mine, baw
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