Sovereign Man – by Simon Black
Shanghai, China
In one of the most comprehensive studies ever conducted of China’s bubblicious property market, Professor Gan Li at Texas A&M University estimates that there are a whopping 49 million vacant homes in China right now.
As a percentage, this is twice the vacancy rate that the US housing market experienced at the peak of its recent bubble… suggesting that China has a rather painful housing collapse in store. Continue reading “FUBAR II: China must import more water than the US imports oil”