And You Think America Has A Real Estate Problem? Look at What’s Happening in China
“It’s a giant new development, which doesn’t even have a name yet.” According to Business Insider, there are 64 million empty houses and apartments in China, enough to accommodate 200 million people. They are brand new, held as investments by newly wealthy Chinese who do not have a lot of options. They need to put their money somewhere, but the stock market is under pressure and bank interest doesn’t cover inflation. So they plunk their money into a new property, just as a place… Read the full story on TreeHugger
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And You Think America Has A Real Estate Problem? Look at What’s Happening in China
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on December 22, 2010. Filed under
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