MooPig Trend Spotters -- "Bubbles in China’s ghost cities and the biggest property bubble of all time" | Grist

Sixty-four Million Empty Apartments in China
Spotted by Pat Darnell

"Bubble Spotter" :: may become the new title of these segments of the MooPig Blogging Enterprise Trend Spotter.

China’s ghost cities and the biggest property bubble of all time | Grist: "Unfortunately, the view of China's urban planning strategies from the ground is less shiny. A riveting report from Dateline, an Australian TV show, reveals a disturbing pattern of development for development's sake -- the construction of gigantic infrastructure projects with no regard for human needs. (Hat tip to GRIST WalkableDFW.)"



" ... According to Hong Kong-based real estate analyst Gillem Tulloch, who is interviewed in the piece, the housing units are priced well above what an average Chinese person can afford. The result, he says, is a housing bubble that is terrifying in size, "a property bubble like which I don't think we've ever seen," he says. "It will make the United States pale in comparison. It's said that there's around 64 million empty apartments.... It's essentially the modern equivalent of building pyramids. It doesn't add to the betterment of people's lives, all it does is it promotes GDP." ... "