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.
Another blog picked up on the 60 minutes piece as well.
ReplyDeleteWow... 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.
ReplyDeleteSome 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.
Yeah. I just wonder how long they can keep building empty cities before it all goes booooom.
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