

From the chats I had with folks in China they said these massive developments got promoted to people as investments. So people put their savings into them thinking they’d pay off. Turned out these new units were far too expensive for the vast majority of Chinese people to afford so they remained empty. It is going to be a mess. I wouldn’t be surprised if the gov just stepped in and seized the properties and rented/sold them out at lower prices just to prevent a collapse and put them to use.






I traveled outside of Beijing about 2 years ago and I passed through a ghost city. I could see, literally, from horizon to horizon nothing but the same exact style apartment buildings and construction cranes in the distance. In the streets though, nothing. You know if a unit is occupied because there will be an AC unit in the window and I estimated about 5% of the units were occupied. I could count the number of people I saw on one hand.