When the Bubble Bursts
When new college graduate Zhang Kunyue moved to Shanghai in June to work there as a data analyst, she found accommodation through Phoenix Tree, popularly known as Danke, one of the largest online home rental platforms in China.
Danke leases homes from their owners for long term, renovates them, splits them up into sub-units and then rents them out. It also provides cleaning and maintenance services, which are included in the rent. Tenants usually have their own rooms but the kitchen and bathroom are shared.
On November 22, Zhang had to
