The Big Real Estate Bubble of Chinese Ghost Cities!

Something strange, huge ad impressive, happen, rignt now, in the Dragon's Country. Something unimaginable that break the economic common sense (in the western way, of course). The numbers: 64 millions of empty apartaments! It is like the entire UK real estate market.
Cities, dozens of big cities are build from chinese government and let alone! The ghost cities in China are real, new, with all conforts and services but with..... NO Population! Why?
An interesting documentary from SBS Dateline www.sbs.com.au... about this amazing and still misterious scenario hided in the most powerful economic country in the world.


What if China's real estate bubble collapse?

Someone has yet ring the bell...

Personally I think China is like our country (USA), a country of Smoke and Mirrors.

They lie just about anything... overate their currency ect...

I will say this, their empty cities are no different than Detroit, Cleveland and our expansions around our nation.

what I do find extremely odd is that China and the USA both know doing this is leading nowhere, yet they still do it. Wonder if they're just buying time.

It has to crash unless at some point the chinese government forces people from other areas (where they my not be paying rent/mortgages - old towns etc) and make them move into these cities JUST to make them live there and pay rent/mortgages on these apartments/cities.

If the chinese govt is paying for all these buildings, where is their money coming from?
If it is america, well it is only a matter of time before the average american is going to ONLY be buying the basic necessities for life, and consumerism will drop to a trickle. Then it starts unravelling

Australia's economy is riding on the back of china's coal and iron ore.
China is building these just to keep their economy running and people working.
I always wonder how the developers of these cities are going to get any investment return?
What if people refuse to be moved into these cities.

aside:
China is no threat to the US, China is a threat to itself
(environment is getting toxic, 10% of rice is toxic, i suspect the melamine added to milk is actually a silent act by the govt as they don't produce enough milk for their people, if a manager wrongly adds too much and people get sick, they blame & imprison the manager of the factory).


It's all a snowball resting on the top of a mountain and once its tips over, the snowball will become huge.

Originally posted by Arken
What if China's real estate bubble collapse?

Someone has yet ring the bell...

Favorable to China, actually. Economic distress will force the workforce to accept lower salaries. Chinese goods will become attractive again to consumers in other countries.