according to the video on page 1, it is the developers who are making money. (Chinese people really hate the developers. there is always a comflict between citizens who houses are destroyed by developers)
the average wage in China is $6000 a year. Yet the apartments for sale and the duplexes sell for $70,000 to 300,000. No one can afford them.
there are millions of housing units for sale and millions of Chinese who can't afford them.
there is a fear of a polarized society rich and poor causing a revelution.
They'd rather let those apartments deteriorate rather than selling them for cheaper. Sounds familiar.