65 million vacant apartment units

[muppet]

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?

[elisten]

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