They should house the North Korean refugees in them when the regime implodes.
These homes are meant to be luxury homes priced as high as the center of any major city in the world. The Chinese are investing their wealth in real estate, but no one can afford to live in the homes. The crash will be ugly.
[quote]I want to move there.
But they're Made in China.
Would you feel safe?
Those are creepy. It looks like the world after a neutron bomb.
And how do they get to work? Or the grocery?
They didn't care about that, R11. It looks like a scam for the companies that built them.
Why are they empty?
no one can afford to live in them
"Why are they empty?"
They don't have lanais Rose.
Real estate bubble just like we had.
[quote]They should try for a Detroit in China.
Maybe they should get the real Detroit.
How hard is it to move a city?
What is wrong with these people? What is the appeal of living in a massive Epcot Center?
Crony capitalism writ large.
The head of those 'projects' is now known as the Chinese Ol' Dirty Bastard.
Not necessarily stupid. That's how Texas was built. They built crap they knew they could never sell, sucking in loose banking funds from all over America. Then they went bust and left the feds to bail them out, but their businessmen picked up the distressed properties for nothing and used the now vacant infrastructure to lure companies from the northeast. All without spending a dime of their own money.
This isn't remotely like Texas, or Florida or even Las Vegas. This is epic and unprecedented in the history of the world, and only the most extreme and arcane economic tricks are keeping the whole thing from exploding like 1000 H-bombs at any time.
China is so fucking odd.
It's the oddest kind of crony capitalism I've ever seen. In the west, I can see some pork-barrel politician giving an ally government funds to build boondoggles like this, knowing full well they'd never be used.
But in the west, wouldn't the crooks just keep the money and not bother to build the cities?
it is even creepier if it is a place usually packed with people, like a shopping mall or a them park.
R21, I couldn't agree more. However, we should pray that the pins and cell tape that they are using to keep the economy from collapsing, don't give out. Because when they do, we are all going to know what real suffering is.
The 2007/2008 crisis and the subsequent recession will be a joke compared to what we are all going to live through if China falls. We are all going to crash right back into the Paleolithic with no money, no energy left and decaying massive infrastructures.
The future won't be bright for the vast majority of us, sadly.
A few months ago, 60 Minutes did a report on these bult-then not occupied--Chinese cities. It was fascinating and then terribly stunning that the Chinese government and banks would build all these buildings and communities as far as the eye could see and then have them remain unihabited.
The Chinese people don't seem to have the money to move in. Plus, if they did, the pollution would be ovewhelmingly worse to have all the empty freeways (they were built too) jammed with cars.
Asians are so manic-depressive. Why do they always overreact to things?
I'm going to China the first two weeks of november 2013. I never had much of a desire to go there, but my company is paying so I'm sort of looking forward to seeing this third world country and all the shiny buildings they've built that no one can afford.
China is a very odd and controlling place.
Country on fire!
Not third world anymore R28. Cept out in the boonies.
Wow, how does this even happen on this scale? Entire cities? During the building of the first high-rise they had to know they didn't have any takers. Why did they keep on building when no one was moving in? Vegas is in the middle of no-where too, but at least it grew over time in response to demand.... not all at once when there was no indication that anyone would even visit let alone stay.
If China falls won't there be more energy for the rest of us, demand will be way down, so prices (at least energy) will fall? Remember when Japan was buying all of our super expensive golf courses and building like crazy both here and Japan, then they took a huge fall? The world didn't end then.
It happens because the system is driven by corruption, not by market realities. Someone with connections to the government or a government-controlled "bank" spends billions of other people's money, and Uncle Cho gets the construction contract.
R33 is correct.
[quote] Because when they do, we are all going to know what real suffering is.
Not really. So what if the bloated banks fail? The gov will bail them out - AGAIN. And the good ole boys will keep raking in their millions in bonuses because nobody's going to chop their damned heads off like should be done.
So don't you worry about it, r26. And, if by some bizarre chance the whole shithouse goes up then good. I, for one, will be able to survive so I'm not particularly concerned.
I wouldn't mind retiring there, how cheap are those villas?
Buy gold NOW while it is down to $1,350/ounce, terrific bargain!
The problem is that China has bought a lot of our bonds. If they run into a crash and decide to dump those bonds, we'll be in the shit. Or they could threaten and bend the US to their will.
[quote]Wow, how does this even happen on this scale? Entire cities? During the building of the first high-rise they had to know they didn't have any takers. Why did they keep on building when no one was moving in? Vegas is in the middle of no-where too, but at least it grew over time in response to demand.... not all at once when there was no indication that anyone would even visit let alone stay.
Actually, they very well may be completely sold. The Chinese are obsessed with real estate as an investment. It's a house of cards.
No, they are EMPTY.
They are obsessed with real estate outside of China.
Maybe they're planning to sell all those empty cities to the Japanese?
If all the rumors about Fukushima are true, the Japanese might want to move en masse, and upwind.
There was no planning involved in that. Just some planning to get money for building that.
The Japanese and Chinese hate each other, so I doubt they would move en masse there.
Yes, they are empty, but they are sold to people who don't live in them. The Chinese government had to put a limit on how many apartments a person could buy because there was such a frenzy.
I keep reading that no one could afford them. They appear to be abandoned. Like the Chinese built city in Africa.
[quote If all the rumors about Fukushima are true]
What are the rumours?
Why don't they move all those people who are living in 40 sf cubes in Hong Kong to these abandoned cities?
I wonder what the infrastructure in these ghost towns is like. Do they have buses, trains, highways, hospitals, schools, police and fire depts?
[quote] What is wrong with these people? What is the appeal of living in a massive Epcot Center?
China is the biggest copycat in the world.
They demonize the US, but they secretly LOVE the US and everything about Americana.
Oh, how they try and try, but they will never be able to replicate our society because they just don't have it in them.
It's like a robot trying to be human. It's impossible.
Americans are distinct and unique, and all the money in the world can't create America in China.
That's what makes us so special. ;o)
The simple answer is that the Chinese who can actually afford to live in those places, are buying property in.... THE US!
Rich Chinese don't want to live in China. They want to live in New York and LA.
[quote]Rich Chinese don't want to live in China. They want to live in New York and LA.
A few, but mostly they want to live in Toronto, Vancouver and Melbourne.