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2:21 am Mon
Apr 18, 2011
Here's an Australian TV documentary about China's housing bubble which has given rise of bizarre ghost malls, ghost highrises, and even ghost cities. It's symptomatic of the growing divide between China's rich and poor, which has left many Chinese without adequate housing. Unlike the US bubble, the Chinese property bubble isn't founded on cheap credit, which makes the analyst hosting the show believe that it won't burst in the same way as American one.
China's Ghost Cities and Malls
Property developers in London built more than 1,900 luxury flats in 2018, the majority of which have so far failed to sell; all told, there are 3,000 luxury flats on the market, a high-water mark for a city whose property market was hijacked by offshore oligarchs and criminals who converted much of the housing stock […]
China's real-estate bubble is the largest in human history, and despite years of warning signs, it has grown and grown, spilling over into the rest of the world.
After 20 years of unprecedented lows, Canada's central bank is gradually raising rates; this, combined with strict rules on new loans, empty house taxes in overheated cities like Vancouver, and mandatory ownership disclosures (which keep money launderers out of the market) are depressing the Canadian housing market, and the prognosis is not good.
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If you’re into tech at all, you should definitely consider unleashing your inner tinkerer on a Raspberry Pi board. If you’re intimidated, don’t be. It’s a statistical probability that people half your age have created cooler things than you can imagine with the versatile kit. Not sure where to start? The Complete Raspberry Pi 3B+ […]
