2013
DOI: 10.2139/ssrn.2196798
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Rent Seekers vs. Producers in Cities: Contagious Housing Bubbles Force Housing Price Diffusion on Urban Overdevelopment

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“…Some station areas are covered with a great number of residential buildings, but jobs, businesses and other amenities are not introduced into these areas sufficiently [39]. These areas turn into the so-called "ghost town" with high residential vacancy due to the overdevelopment of real estates and lag of facility construction, meaning that people are not willing to move there and the burden of urban overpopulation can't be relieved [40].…”
Section: Population Around Suburban Transit Stationsmentioning
confidence: 99%
“…Some station areas are covered with a great number of residential buildings, but jobs, businesses and other amenities are not introduced into these areas sufficiently [39]. These areas turn into the so-called "ghost town" with high residential vacancy due to the overdevelopment of real estates and lag of facility construction, meaning that people are not willing to move there and the burden of urban overpopulation can't be relieved [40].…”
Section: Population Around Suburban Transit Stationsmentioning
confidence: 99%