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Turino - 2010-03-11

Allow me to add that there have recently been many tower blocks constructed for city dwellers, even in smaller cities and so-called 'counties', which are the equivalent of large towns, in many cases.
The UK stopped said kind of housing developments in the 70's. You may wonder why - because they can turn into hotbeds of crime inhabited by those without gainful employment. Environments like that can increase criminal activity amongst the more deprived members of the British society who live there in close proximity to one another! Such 'matchbox' apartments represent the cheapest housing on offer in the UK. But in China they are considerably more costly than flats in 6-storey apartment buildings. This is an example of pure unadulterated greed, the reason being that the property developer can construct many more housing units in a 30-storey building on the same piece of land than he can if said building is limited to six storeys! Not surprisingly, many Chinese are snapping them up at inflated prices, thinking they have gotten a bargain! How naive they are!

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Re: Old China Hand - Purchasing Power of Yuan? -- Turino -- 2010-03-11
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