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Which is hardly surprising, given how insane the Chinese real estate bubble is. I understand there are entire ghost cities of extensive high-rise developments -
by vesinisa 5y ago
Which is hardly surprising, given how insane the Chinese real estate bubble is. I understand there are entire ghost cities of extensive high-rise developments - sitting largely abandoned and owned as vacant second homes by Chinese private investors waiting to sell them on a profit thanks to an urban migration that might never happen.
Edit: I don't know why am I being downvoted. The Chinese real estate bubble has been rather well-documented, see e.g. this YouTube video: https://youtu.be/EgVXRtq5EIg https://youtu.be/EgVXRtq5EIg
- pjc50 5y agoYes, this is basically Anglo-Irish Bank on a much larger scale.