I can't tell which is more of a waste, but eventually those new cities in china will get filled up with people. Here, they will just kick more people out of their homes and let those same homes sit empty and rot, because the bankers can't make enough off of them, or bulldoze them down to let it grow up to be weeds.
And it doesn't matter the old supply and demand deal with most homes in the US now, no jobs, no money, the house would need to be free to "sell", and even then might not work as no work equals no money equals no utilities provided and no maintenance and upkeep.
Real estate speculation...outta be a law...several really. Same with foodstuffs speculation. We have too many middlemen who "need" to make a killing off of stuff, and the same guys skew the economy so that jobs get offshored as fast as possible. One might think they would bingo to the old "don't kill the goose that lays the golden eggs" deal, but apparently they don't grok that concept..
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