The real estate information website (http://www.9999.cd/) reported the collapse of a fragile building a few days ago. Does this event signify a heavy blow to the booming real estate market? Furthermore, is it more a matter of luck that the building collapsed before its residents moved in rather than after they had taken possession? This incident spared those who bought apartments in the building from potential harm.
Event Recap: The sudden collapse of a thirteen-story under-construction residential building in Shanghai's Minhang District was akin to a resounding slap on the face of the gradually heating up real estate economy across various regions. Real estate isn't merely a commodity for speculation; it also serves as shelter from the elements and provides people with a place to rest peacefully. Just as birds have nests and animals have dens, our homes are fundamental to our livelihoods. If the so-called "pillar industry" is so unreliable, how can we not be alarmed?
After the building fell, aside from the anxious homeowners demanding refunds, people were more concerned with the question: Why did a thirteen-story building collapse? What factors contributed to the sudden downfall of this building? Was it like being kicked by a Transformer? Or the lingering effects of North Korea's nuclear tests? Or perhaps "I used all my strength to crawl on the ground just to touch your warmth?" None of these explanations hold water. Preliminary expert investigations concluded that the cause was "improper construction." These four golden words are a perfect excuse whenever there are issues with any architectural project. However, the short exposed piles and the spindly rebar, thin like chopsticks, still have something else to say.
A media investigation revealed that the main shareholders of Shanghai Meidu Real Estate Development Co., Ltd., the developer of the collapsed building, share names with the assistant town mayor, director of land acquisition affairs, and general manager of Meilong Asset Company in Meilong Town, Minhang District. Given such connections, it’s unsurprising that the building collapsed. As a vehicle for power rent-seeking, perhaps the land by the river wasn't suitable for construction, but someone waved their hand and approved it anyway. Perhaps the piles should have been driven deeper and more solidly, but since we're shareholders, we need to save money, so cutting corners is acceptable. Perhaps the construction could have been slower and safer, but considering the exorbitant profits of 10,000 yuan per square meter, and with sales contracts already signed and the money in hand, why worry about potential disasters? Amidst all this, shoddy construction practices come to light.
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