this post was submitted on 26 Nov 2024
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Half a million per unit? Average apartment construction cost in Shanghai is ~$52.3/sqft, that's a bit under $50K/900sqft 2bd apartment. Elsewhere in China is cheaper.
When you centrally plan what resources will be needed at what price and what the completed apartments will sell for, you get much cheaper and higher quality apartments than the paper thin walled engineered lumber 5-over-1s we pay half a million for.
US cities have literally paid organizations more than that per year per person for tent camps.
I'm quoting from some of the most expensive real estate in the US. While we might get some savings from economies of scale, it's important realize that doing this purely on the market could save Americans 50 percent on their rent.
It's low hanging fruit at this point.