The ghost cities of China-Estimated 64 Million vacant homes and still building

[-SD-]

Ok just showed my chinese roommate this and he said its an investment bubble and cant be sustained for obvious reasons. In short its a real estate bubble thats going to burst.

 

[javaguru]

centrally planned economy fail!

 

[nangiggles]

one of those is like a huge development in the middle of the dessert.... jeez....

 

[-SD-]

centrally planned economy fail!

Yea no shit. If you notice the only people in the towns were gov workers in the gov buildings.

 

[SpyWizard]

ya'll don't get it do ya????

communism... everyone has a job, everyone has a house, it's the Obama dream, you work for the government, and it's cradle to grave relationship..

Jamaica is the same, difference is if all you want to do is sweep a street and get stoned 24/7 that's ok too.. nasty country by the way...

but that's just my 1st hand experience..

 

[b0und]

I heard about this before, didn't know it was so massive.

This will be one big clusterfuck when their real estate market crashes.
















b0und (wow)

 

[75th]

they can as long as we are borrowing money and paying interest

Thanks razor.

Seriously though, the entire foundation of China's economy lies on the idea that they can continue to "grow" at the rate that they have been over the past decade. As soon as that slows down for an instant, the entire house of cards will come tumbling down.

Itll happen by the end of this decade.

 

[-SD-]

And America gets what it deserves!!!!!!

Oh, i mean "and china gets what it deserves!!!!!"

 

[billfred]

Thanks razor.

Seriously though, the entire foundation of China's economy lies on the idea that they can continue to "grow" at the rate that they have been over the past decade. As soon as that slows down for an instant, the entire house of cards will come tumbling down.

Itll happen by the end of this decade.

I don't really agree. The Chinese are making a big push to move people from Rural China to big urban centers. Some are probably in less than optimum places but they will get filled- part of the controlled economy.

One must keep in mind, if you subtract the entire population of the US from China, you still have 1 billion people. Most of those are living in conditions that your great grand parents lived in 150 yrs ago.

 

[SPEKTOR-AAA]

Im curious to see the impact this "crash" will have on us. Since they are Americas' bank haha.