Why is nobody living in kangbashi?

Kangbashi, a new city in Ordos, is called a "ghost town" by Time magazine, which is related to the development decision of the local government. The expansion of kangbashi in Erdos New Town also follows the "old road" of land auction, bidding, borrowing bank capital and developer development.

Although the local government has invested about 5 billion yuan, it can only be used for infrastructure construction, and the house price that is most closely related to the people is "abnormally high" because of the deviation between the land transfer price and the urban development orientation. Under the deliberate "soaring" of the government and the hype of merchants, "the high housing prices here have been created". Take the accommodation price as an example. Four-star Hengxin Hotel, deluxe suite per night 1 188 yuan, single room 398 yuan. (The general rule is that the price of commercial housing is bound to be high in cities with high accommodation prices, such as some cities in Hainan Province). The rent of shops is higher. A grain, oil and vegetable store in Building 3, Kangcheng Phase I, with an area of over 90 square meters and an annual rent of 65,438+10,000 yuan. ...

Such a high housing price does not reflect the law of value in essence. In fact, the exorbitant housing prices are speculated by speculators, but people who really want to live in the old city can only flinch in the face of high housing prices. Foreign property buyers are unlikely to flood into this "ghost town" to "fill in the blanks" except for "real estate speculators". So there is such a "strange phenomenon"-the old city is overcrowded, but there are fewer people in the new city, and even "there are more cleaners than pedestrians."

This strange phenomenon has put the local government in an extremely embarrassing situation. It is no longer possible to attract ordinary people to live by lowering housing prices, and the government has no right to directly order developers to lower prices. And the director's "high-to-high-to-high" commercial housing will not be able to take the initiative unless it collapses. As long as house prices don't fall, they can't attract ordinary residents, and in the end it's just a vicious circle from "ghost town" to "ghost town". However, the "ghost town" phenomenon and the housing price bubble will collapse one day. How long will it last?

One situation is that the government will not continue to inject capital, developers can't recover their costs, and local banks are in crisis because of the sharp increase in non-performing loans. Just like a city a few years ago, batches of unfinished buildings appeared and a large number of development enterprises went bankrupt. Another possibility is that this bubble will last for a long time, because local governments have huge fiscal revenues, which can subsidize and "pay the bill" for the crisis. However, the cost is that public finance suffers, spending money on various resources related to local long-term development, overdrawing long-term development and people's livelihood interests.

In either case, the emergence of a "ghost town" like kangbashi is not a blessing to the people.