The urban myths around China’s property bubble are as compelling as they are odd. There are tales of office blocks, towering in Shanghai, Beijing and a dozen other provincial cities, behind whose mirrored-glass exteriors is a ghostly silence. There’s the story the cycling professor noting a complete absence of lights in ranks of buildings, during the most recent solar eclipse in Beijing. Of taxi drivers who ply their trade, whilst nailing down million-dollar property deals on the phone. Of couples divorcing, so they can claim an extra share of the property bonanza. Even allegations of 60 million homes mysteriously having no electricity charges for more than 6 months. Continue reading »
There is probably only one other issue capable of challenging the Olympics for national attention in China right now: the collapse of the housing market in China, led by Shenzhen. Home prices in Shenzhen grew very rapidly in recent years (on the order of 50%-100% ), and now appear to be falling just as quickly.
But for some people, it might not be falling fast enough. Two years ago, Zou Tao organized a campaign to fight rising prices in Shenzhen called “Not Buy House” (explanation courtesy of ESWN). The government gave Zou Tao a firm “suggestion” that such mass campaigns were not welcome. Now, he’s back. Courtesy of Southern Metropolis, an article on his new campaign (连接):
Zou Tao organized a “Not Buy House” campaign two years ago. He is now initiating a new campaign: “Housing For Ten Thousand – Group Buying Activity”. He has already established a web platform at www.zoutao.com, and online voting and registration is currently on-going. Zou Tao says that he is doing this voluntarily without any compensation. His goal is to use a group-buying model to push down housing prices, and let those without homes find a place to live.
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