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19%  
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  • The Folly of Central Planning

    10/06/2011 9:49:11 AM PDT · by Reaganite Republican · 5 replies
    Reaganite Republican ^ | October 6, 2011 | Reaganite Republican
    Over 65 M completed new homes sit unused in China,  along with public buildings/accompanying infrastructure... If the Chinese property bubble pops... what then? The massive public projects under way in communist China today include sprawling housing developments, retail shopping districts, and 'forests' of skyscrapers. Since they were built to support the country's ongoing economic boom and real-estate rush, all these tower block condos, economic centers, and recently-built neighborhoods should be bustling with hard-working Chinese newcomers from the countryside... or so you'd think.But satellite pictures taken earlier this year revealed that China's odd unused-housing stock glut has only gotten worse, if anything: they indeed...