Won't work:
the home loan from the bank is not discharageable in bankruptcy. You cannot walk away.
There are additional civil sanctions if you do not pay.
It the government hypothetically bought up all the unfulfilled contracts for $1, people would bail and sell immediately.
There is going to be a tremendous inflation because the government would be printing large sums of currency in a country where there is no income tax and no property taxes.
The only way that local governments are able to function is buying seizing and "selling" land to developers and that has stopped. There is no tax revenue
@InspiringLionSocialist3mos3MO
The Central Government needs to sell more workers their own homes. The sales will provide gas to the economy and also quell the need to keep poking Taiwan and the American "devils". Put them to work paying mortgages and buying electronics for new homes.
@CommittedSnipeLibertarian3mos3MO
Most of the factory, construction workers, truck drivers etc have houses in the rural villages where they came from and have been putting their money into upgrading them. They may not want to invest in a concrete box in a city slum. Plus they don't have an urban household registration so they're permanently temporary residents. China has gone way down a blind alley
@AgileMinorityRepublican3mos3MO
In 40-50 years these mega housing complex would be inhabited by ghosts as China's population drops in half.
@CommittedSnipeLibertarian3mos3MO
Ghosts already there. Its estimated they have at least one apartment for everyone alive in the country.
