that roughly twenty two percent of china's urban housing stock is unoccupied according to professor ganley who runs a main nationwide study that has up to more than fifty million homes that are empty and here's a shop to the job of the blue line is third home purchases going back to two thousand and six up to two thousand and eighteen as you see as house prices become more and more expensive. those with one home or two homes already are able to extract equity and invest in other homes whereas first time buyers are ever declining because they can't afford to find any equity which to put a deposit and then you know so it looks like a classic ponzi scheme there and you have fifty million empty homes they don't have a very advanced financial system so that also adds a little bit of an explanation to why they they see homes as basically a safe deposit box because they don't actually have a sound banking system but this looks on paper at least precarious yeah it is precariously there's a housing game and the thing about housing is that it gets a wasting asset it falls apart unless. sure there th