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Ghost towns of china !!!


velu

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1 hour ago, beetle said:

How can such a populated country have ghost towns:facepalm:

Real estate bubblles ! It this age of analysis, how can they not predict the behavior of the market and people.

 

Because China is big. almost three times bigger

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On 4/2/2018 at 10:33 PM, beetle said:

How can such a populated country have ghost towns? :facepalm:

Real estate bubblles ! It this age of analysis, how can they not predict the behavior of the market and people.

 

Property is seen as a safe investment and one that appreciates quickly.  Lot of people ended up buying 2nd and 3rd flats, thinking the prices will keep going up.   Ultimately leading to overcapacity in a few places - 2nd and 3rd tier city outskirts where the demand wasn't really there.  

 

A lot of these places are also shoddily built.  In China its expected and normal to spend a big chunk of money "fixing" a NEW flat that you buy.   You think Indians have a bad attitude toward quality and building regulations?  Google "Chaboduo" and you will find that China has its own version of "chalta hai". 

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