Deflationary Depression: Ordos Stops Paying for Relocation, Issues Housing Tickets

A sign of the deflationary depression in Ordos comes from the relocation market. Normally in China, if the government takes a property they compensate with money. Ordos found some people take the money and run, leaving the housing inventory problem unsolved. The solution: give people land vouchers good for another property in the city.
"In the past, we shantytowns, in a way more for the site to move back + monetary compensation. In practice, we found that the site fetches do not involve the housing inventory, with destocking is unrelated. Monetary compensation can not ensure that all cash compensation will flow into the housing inventory." Deputy director of Erdos City Dongsheng District Housing and land management redeemed vouchers settlement Center (hereinafter referred to as the clearing house), said room ticket system introduced, not only improves the speed of the demolition, but also the effect on housing inventory is also very significant.
iFeng: 楼市泡沫破裂后的鬼城鄂尔多斯:房票制去库存

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