The ghost towns of China: Amazing satellite images show cities meant to be home to millions lying deserted
Ghost city: Kangbashi was meant to be the urban centre for wealthy coal-mining community Ordos and home to its one million workers, but its roads are eerily empty and the houses stand vacant
Elaborate public buildings and open spaces are completely unused, with the exception of a few government vehicles near communist authority offices.
Some estimates put the number of empty homes at as many as 64 million, with up to 20 new cities being built every year in the country's vast swathes of free land.
I suspect this a result of central planning and those who do that do not understand what they are doing.
Chinese Academy of Social Sciences:
Of the 35 major cities surveyed, property prices in eleven including Beijing and Shanghai were between 30 and 50 per cent above their market value
That is an incredible statement, or there is something happening in China I just can't comprehend.
Prices equal MARKET VALUE!
Shi has insisted China will not end up in a worse place than Dubai - where a property price bubble imploded during the global financial crisis.
PRICE BUBBLE represents an inflated MARKET PRICE!
Find out what is causing the bubble and pop it before it causes to much damage!
Back when I sold my house in California it was no secret that prices were inflated and eventually the BUBBLE would pop.
Causes were no less than central planning by liberal wackos like Barney Fag, oops I mean Sen. Barney Frank who helped push quasi government agencies like Fanny Mae and Freddie Mac to guarantee home loans to people who had no business buying a house. Followed by unscrupulous financiers with nothing to loose.
So much for the liberal concept that everybody has a RIGHT to own their own house.
I wonder what the problem in China is.
Is it some philosophical idiotology or simply greed by some who will no matter what profit immensely?
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