Thursday, April 28, 2011

China's real estate bubble

America, you've got nothing on China's bubble. Countless cities fully built and very few residents. According to the source in this video, there are 64 million empty apartments in China. In other words, you could take every man woman and child in Canada, give every one of them their own apartment and there would only fill half of them.

Average asking price is $100,000 but a typical Chinese family only makes $10,000 per year, if that.

That's bloody incredible!

1 comment:

Anonymous said...

Well, I foresee more House Hunters International shows on HGTV.