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Q: Is this what American socialism looks like or cages in hong kong better?

http://www.theguardian.com/business/2016/mar/20/co-living-companies-reinventing-roommates-open-door-common-

 

so the chinese in san francisco buy a 3 story home, live in the top floor and rent rooms in the bottom 2 floors to pay off the house for about a million dollars.

 

so now the young generation will go back to the hippie commune lifestyle of the 60's hopefully without the drugs and free sex to keep rent costs down in expensive cities.

 

i have a big problem with this not because of the idea per se, but the no choice option that caused this to happen.

 

im sure some politicians will set some zoning laws to try and stop this but it hasnt worked in los angeles or new york so i guess having a farting and snoring sleeper is coming to a home near you.

 

i suppose this trend would hit shanghai and beijing considering the high prices for rent, i seem to remember a story a couple of years ago about chinese living in the sewers under beijing.

http://www.huffingtonpost.com/2013/02/07/hong-kong-poor-cages_n_2638068.html.

http://www.odditycentral.com/news/dark-side-of-hong-kong-people-living-in-metal-cages.html

 

maybe i should move to a cave in portugal or alaska and get a guard dog.

3 years 38 weeks ago in  Housing - China

 
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Conceptually, the idea of having other people pay for your house is not bad. The other people are the suckers. However if the house layout allows privacy, then having tenants fund the bricks, by all means. 

What I have seen in Hong Kong and China is people stacked in small rooms, that is just beyond awful

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3 years 38 weeks ago
 
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Conceptually, the idea of having other people pay for your house is not bad. The other people are the suckers. However if the house layout allows privacy, then having tenants fund the bricks, by all means. 

What I have seen in Hong Kong and China is people stacked in small rooms, that is just beyond awful

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3 years 38 weeks ago
 
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http://www.zerohedge.com/news/2016-03-20/its-moved-beyond-vancouver-down...

It's Moved Beyond Vancouver: "Downtown Seattle Has Entered The Phase Of Ponzi Financing"

By Charles Mudede Of The Stranger's Slog

Occupancy Rate Becoming Less of a Concern for Downtown's Real Estate Investors

I was recently informed by local economist and manager of IDEAeconomics, a website that promotes post-Keynesian views (and post-Keynesian must not be confused with neo-Keynesians), Alan Harvey that a significant shift has occurred in the market for commercial property in Seattle's downtown area.

In the past, the value of a commercial property was "the capitalized value of the stream of rents from that property." In this order of things, occupancy rates (content) mattered. Now, commercial properties are not selling content and value but merely value. Meaning, they are selling a "projected increase in price." Meaning, downtown Seattle has entered the phase of Ponzi financing.

"My speculation is that this has been caused by people looking to move their money into the US," Harvey explained. Where did he get this information? From a source within the CBRE Group, a "commercial real estate company based in Los Angeles." This source confirmed that global surplus capital is behind this transition. "It's much more lucrative to build or buy with the hope of selling at an inflated value rather than actual revenue."

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3 years 38 weeks ago
 
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There's no such thing as "Americsn Socialism"!

 

The reasons for these co-living communities is American Capitalism as mentioned due to "stagnating wages and rising rents (paraphrasing, not exact quote). People who in the past couple of decades could have rented cheap or bought at a young age have been priced out of the market and are now having to share. 

 

I bought my first house at 23 years old in the UK for a cost of 3x my annual salary. The most you could borrow against at the time. If a 23 year old tried to do that now they'd be looking at a 6x to 8x multiplier, and that's before you take account of their massive student loans debts. 

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3 years 38 weeks ago
 
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http://www.businessinsider.com/disorienting-photos-of-chinas-skyscrapers...

 

12 photos that give a disorienting look at the 'weird' buildings of China

 

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3 years 38 weeks ago
 
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My MIL does this. She has a 4 story house and converted the top two floors into 6 small apartments. She rakes it in.

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3 years 38 weeks ago
 
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the problem in china is at least people are not able to buy a whole house. Those who have several apartments got it for free. They dont give a crap how many people live there. As a standard all apartments here are build like above mentioned anyways.

 

just sucks to see that now hard working people in the western world face the same rubbish as in china. Salary too low to live well

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3 years 38 weeks ago
 
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There was a story in the paper not long ago about places that have 16+ people in a room, by stacking in the bunk beds - including in the kitchen. The local government had to put in a new law - which still allowed ridiculous numbers.

 

And in my local area, the ex-farmers are refurbishing a couple of floors, and renting out tiny rooms with ensuite (so, basically a bedroom) for around 500/month each in a  university town!

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3 years 38 weeks ago
 
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