Comment on Everyday AI looks more like the '08 housing bubble

• KeenFlame@feddit.nu ⁨1⁩ ⁨day⁩ ago

  It was a textbook bubble. They made and gambled on theoretical apartments where nobody involved had any intention of living there or any responsibility or connection to the underlying structure, to the point where building cardboard skyskrapers became a business… the is no point in denying it. Capital housing investment is a plague on humanity.

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  • ThirdConsul@lemmy.ml ⁨20⁩ ⁨hours⁩ ago

    There are always bad actors in the system (see: hedge funds). But bubble? It can be argued that Ordos (the ghost city) was build too early, but it’s filling in nicely. From 30k in 2009 to 2.000.000+ in 2020.

    en.wikipedia.org/wiki/Ordos_City

    On the other hand noone ever build a damn whole modern city before for the people, so I’m not surprised they jumped the gun.

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    • KeenFlame@feddit.nu ⁨12⁩ ⁨hours⁩ ago

      When Investors own houses only because it will appreciate in value from time only, that is a fundamentally flawed system because in reality houses decrease in value as they get older. It creates an environment where everyone involved is a bad actor

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• drmoose@lemmy.world ⁨1⁩ ⁨day⁩ ago

  Ah yes “the stoopit west har har” propaganda lol

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  • Jankatarch@lemmy.world ⁨1⁩ ⁨day⁩ ago

    I was mostly going for “modern journalism is is sad and biased towards clickbait” ngl. Especially now they have AI edited articles.

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• pycorax@sh.itjust.works ⁨1⁩ ⁨day⁩ ago

  I mean even if it was planned the amount of excess given falling birthrates, doesn’t check out either.

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