China’s Ghosts

I have heard that China has enough empty houses that nobody wants to buy to house Canada’s population 2 or 3 times over.

Actually there are 68 million vacant and unwanted housing units build for nobody way out in the boonies.

Oh and also a University build for a mind-boggling 2.5 million students that has a current total enrollment of 1100. And very kewl Art Museum that is unfortunately empty. (I wonder if they would let me be curator and give me a budget for buying art?)

Some enterprising person has located them on Google Maps here

Seems hard to believe people still deny there is a bubble in China! Which is pretty serious since China’s growth and demand for Gold, Silver, Oil, Copper Etc. are one of the only moving parts in the world economy these days.

And particularly serious for Canada (and Australia) since demand for Commodities is what keeps our Petro-Currency and Commodity-based economy floating, Probably not so good for the Americans either.

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  1. February 14, 2011

    […] vary, though many say 60% of the Chinese economy is construction. How long can they continue to build empty cities? Only as long as the interest rate is […]