“Anyone who believes in indefinite growth in anything physical, on a physically finite planet, is either mad or an economist.”
This applies to not just to population growth, but just maybe also to the growth in value of housing.
This page is a look at ‘ghost cities’ and ‘ghost homes’, and the window they provide into how distorted investment can become in the pursuit of growth.
The end result of the distortions can be overvalued assets funded by highly leveraged ordinary citizens. If that is the case, not just with ghost cities but beyond, the correction will clearly present a financial crisis.