The economy creates 383,300 jobs in the second quarter and the number of unemployed falls by 255,300 »Chinese authorities, struggling to complete $300 billion in stalled housing projects, are considering putting them up for rent.It's good in the long run, but the declining housing market needs more buyers than renters.Xi Jinping has been trying for years to change the attitude towards renting.Most owners still prefer to leave their flats empty than to rent them out.Profitability can reach triple digits over time, but renting can hurt resale value, given many Chinese's distaste for occupied homes.And since most tenants are poor or very young, returns are among the lowest in Asia.Before Covid, in Beijing or Shanghai they were less than 2%.Thus, the country has enough empty units for about 90 million people, estimates Logan Wright of Rhodium Group.That doesn't include the 500-600 million square meters of unfinished projects by indebted developers who have run out of money.Many of those who have pre-purchased flats threaten to stop paying their mortgages.The idea is circulating that the state will buy those units, finish them and turn them into affordable rental housing, thereby contributing to the 6.5 million low-cost rental units that Beijing plans to put on the market by 2025. The timing, however, it is dismal, given the fall in investment by developers, and in sales per area: it would contribute to the recession.In normal times, converting unused space into affordable flats would not affect buyer confidence much.But the risk is that people become convinced that property is going to peak sooner than expected, and wait.After all, family formation is slowing down, and Beijing's push to make renting a respectable alternative could work.Adding public flats to rent will further reduce returns, deterring private investors such as Singapore's sovereign wealth fund GIC.Taking advantage of empty floors is a laudable goal, but there is no reason to rush.The authors are columnists for Reuters Breakingviews.The opinions are yours.The translation, by Carlos Gómez Abajo, is the responsibility of CincoDías