3 thoughts on “China’s massive real estate bubble, ghost cities

  1. My belief is that these ghost cities have been built to accommodate those people displaced in a coming war. If anyone believes these are the consequences of a real estate bubble then they are fooling themselves.

  2. I’ve seen this housing build up when I was living in China from 2007-2011. After the Beijing Olympics in 2008, they built so many of these apartment high rise buildings within months and charged a fortune for them, that there ended up being more apartments than there were people who could afford them. In the end, the government tried to slow the housing boom down, but it was too late. Now they are nothing more than ghost cities just like they call it.

    Basically, the Chinese people were assuming that after the Olympics that everyone around the world would invest in China, so the high cost wouldn’t matter, as they felt everyone outside of China could afford it. You see, most Chinese people care more about foreigners than they do about their own people. They look down on their own people and look up to foreigners, viewing them as a way to move up and out of the country. It’s kinda sad. That and the fact that all they care about is MONEY, MONEY, MONEY! It’s all about survival and backstabbing for to get ahead for them.

    That’s what happens when you live under a Communist government and that’s what I have seen increasingly happening here in the U.S. since I came back as jobs are becoming more and more scarce and the desperation for job and survival is at an all-time high. We are becoming a third world Communist nation, and we are already definitely a more Fascist one than China.

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