Residents moving into unfinished apartment blocks is rare in China, but not unheard of.
For the residents of Jinling Apartment, life in the building has been inconvenient, but tolerable. Many of them grew up in poverty, and are used to coping with poor living conditions.
“Tough? We’re all people who have experienced bitterness,” says Song. “This house is much better than the village house (I was renting before). I was afraid the village house was on the verge of collapse.”
This seems to be a developer liquidity issue? Why did Chinese banks get them to delever but still complain they won't build the buildings they promised to make? Perhaps they should just get them the liquidity they need for now, and ask them to slowly delever in the future.