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  1. #1
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    Default 65 million vacant apartment units

    A comment in today's Daily Reckoning
    Now China is dealing with two aspects of the same problem: a property bubble and a bad loan problem. There are close to 65 million vacant apartment units in China - enough for every Australian to have his or her own overseas crash-pad. Yet because of rising property prices - and an affordability crisis - the central government plans on building an additional 40-50 million low-priced housing units in the coming years.
    65 million vacant apartment units....is that a fact?
    "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

  2. #2

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    Quote Originally Posted by muppet View Post
    A comment in today's Daily Reckoning

    65 million vacant apartment units....is that a fact?
    Yes this is a fact... banks over there have sold houses in short sales and foreclosure nearly half of the prices


 

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