Sunday, February 05, 2012 1:43:13 PM
My friend and I were considering creating a small scale warehouse "factory" in China to make a fermented product. He said it would be virtually mandatory to provide sleeping quarters in the warehouse to attract top quality workers. The real estate bubble there has driven rental prices up so high that young people can not afford anything without lots of room-mates, some sleeping in shifts.
In fact, to keep their properties mortgaged at high valuations, much housing accomodation sits vacant. That is because no one can afford the high rents, so it would have to be rented at a cheaper rate, which would devalue the property in the bank's eyes. 2 years ago, one professor extrapolated results of an electrical consumption study and believed there were 47,000,000 vacant housing units in China.
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