Reported 29 days ago
Despite urging over 200 cities to purchase unsold homes to address a housing crisis, only 29 have acted on the plan due to unfavorable economic conditions and concerns over local finances. As housing prices are projected to drop significantly, local governments face the dilemma of rising costs against potential returns, causing delays and skepticism about the feasibility of the initiative. The slow progress may necessitate more aggressive measures from the government as the country deals with an alarming surplus of housing inventory.
Source: YAHOO