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Is China's economic bubble about to burst - Printable Version

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- quadrat - 04-18-2011

WmLambert Wrote:Potemkin cities writ large.

The Chinese build these monstrous cities to ensure work for a growing middle class - even though there is no demand for them. There are millions upon millions of agrarian Chinese moving to cities, and these have not been saturated to where they need new ones yet. What happens when such structures are built on spec, is that they are always built sub-standard and are usually deemed unlivable by the time they are ever occupied. Perhaps the next stage is demolition, then rebuilding.

In the USA, any building must be inspected and issued a certificate of occupancy when it is built. Buildings that are unoccupied or in hiatus must be safed off: utilities capped and all potential dangers attended to. If unused for more than a calendar year, such structures must be taken down to the dirt before any construction is allowed to be restarted, even if safed off. This happened in Vegas where Echelon was stopped after the towers were mostly built. The multi-billion dollar project was safed-off, but after a year of not being restarted became a total loss.

vegas is a good example, thank you. 1 in 9 homes in foreclosure.

[Image: vegas-foreclosures-110415.jpg]


- John L - 04-18-2011

Did the government build all those homes?


- quadrat - 04-20-2011

big business is the government, isn't it? while the chinese produce vacancy, you produce vacancy and poverty. however, good your building codes are strict. here's a curious case, the scrapped chicago spire. sits on land contaminated with radioactive thorium, dumped there by a private company more than 80 years ago. probably before the joys of nucular stuff were widely known, we talked about them recently. http://en.wikipedia.org/wiki/Chicago_Spire