China's massive oversupply of real estate inventory is now rumored to contain upwards of 64 Million new apartment units. In this look at Chinese "Ghost Towns", journeyman.tv takes us into brand new malls where there are no shop keepers and no shoppers, to brand new cities where 75% of all units are vacant.
We also learn why the vacancies are so high as the Chinese Government continues to build, build, build and nobody comes.
This past week we hear of riots in Western China where four were killed. As further polarization between the labor class and the upper classes grows in China, the central government runs the chance of feeding a blow up of property values, the Chinese Economy, and the Chinese nation...
1 comment:
Excellent find! Thanks!
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