Monday, March 4, 2013

60 Minutes discovers the Chinese Housing Bubble

Last night 60 Minutes ran a piece on the housing bubble of China:



Link to video
I have written about the Chinese Housing Bubble at length and it is nice to see the popular media pick up on it as well.  I wonder how much longer this can go on.

3 comments:

  1. Another blog picked up on the 60 minutes piece as well.

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  2. Wow... we have to watch the commercials too on the video... and it still boggles the mind the epic stupidity of the Chinese central planning. Reminds one of the boiler-house stock market certficates of the 1920s pre-crash.

    Some of those cities look pretty nice albeit empty. Wonder if they'll let foreigners rent them? Thames town looks attractive and at least has one business...

    I had a classmate describe a similar (albeit less grand scale) in Vietnam. Total ponzi scheme.

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  3. Yeah. I just wonder how long they can keep building empty cities before it all goes booooom.

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