international CRE development question: Why are there so many partially developed buildings?
I've noticed traveling overseas its much more common to see abandoned developments that are huge and make a pretty noticeable statement in cities. I imagine its because developers ran out of money, but is it really that much more common then compared to the US?
[{"id": "ha3tup1", "text": "Likely a symptom of US municipal governments being less susceptible to corruption and more proactive in enforcing local bylaws preventing blights.", "replies": [], "depth": 1}, {"id": "ha4ax81", "text": "In many smaller countries the banking system is less well developed (and not as well regulated), thus banks charge ridiculous rates to borrowers, so many developers will use their own cash instead of borrowing and as a result many projects will take up to 10 years or more to complete.", "replies": [], "depth": 1}]