First up, from the Economist:
And from Dalrock:Bride prices in China have shot up, bending the country’s society out of shape. Our most popular video of 2018 pic.twitter.com/yrZZdrOnOE— The Economist (@TheEconomist) August 20, 2019
The marriage marketplace connection to China’s ghost cities.
Way back in 2011 I wrote an off topic post on China’s ghost cities. With the current trade war with China I’ve been watching some youtube videos to try to get a better understanding of what is going on with China’s economy. One thing I learned is that the infamous ghost cities aren’t merely a product of central planning gone wrong. There is a strong speculative component to the phenomenon, as the apartments in the empty buildings are being purchased for astronomical prices by highly leveraged chinese citizens, especially chinese men who are looking to signal their suitability to marry by owning “property”. I put property in quotes because what they are typically buying is an unfinished (bare concrete) apartment in a building on land leased from the government for 70 years........MUCH MORE