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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: GST who wrote (53933)2/15/2006 4:01:54 PM
From: Elroy Jetson  Read Replies (2) of 110194
 
China is building cities at a rate of roughly 30 million people per year. Easily ten times the rate at which we are growing our cities.

But what is the point of this uneconomic boondoggle?

One of my friends, who has been working with Chinese real estate developers for the past five years, tells me China already have enough empty factories, apartments, condos, houses, ports, and other infrastructure to meet the expected demand over the next ten to fifteen years.

In spite of this glut of empty real estate, the building trend shows no sign of abating.

I suspect China's real estate investments will turn out as poorly for them as their disastrous scheme to stockpile Copper.
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