VIDEO China "Ghost Cities" by ADV China

[Housecarl]

Are NEW Chinese buildings really FALLING DOWN?
Run time (11:03)
https://www.youtube.com/watch?v=XopSDJq6w8E

ADVChina
Published on Jul 2, 2018
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Ghost Cities in China. Real estate bubbles. We've toured Chinese ghost towns in the past, but this time we visit a high end neighborhood of villas that were only built 3 years ago, and were shocked to see the state that they were in. We were surrounded by new buildings, that were completely empty. This is the state of real estate in China.

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Living in China for so long, we would like to share some of the comparisons that we have found between China and the west, and shed some light on the situation.

Every week, we take you to a new place in China on our bikes, cover a topic, and reply to your questions.

Watch Conquering Southern China NOW!
Winston and I ride 5000 km across 5 Chinese provinces and discover crazy food, people and customs!
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Cartoon feat. Jüri Pootsmann - I Remember U
https://soundcloud.com/nocopyrightsou...

GHOST CITY - Inside the Chinese Housing Bubble
Run time (15:50)
https://www.youtube.com/watch?v=BcyYyyaPz84

ADVChina
Published on Oct 16, 2016
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Speculative buyers have eschewed Chinese stocks in favor of property, prompting even the chief economist at the central bank of the world's second largest economy to declare that housing was in a "bubble."
But when strategists at UBS AG recently compiled a list of bubblicious housing markets, there weren't any selections from mainland China due to the lack of reliable data on the subject, underscoring the continued difficulty in declaring Chinese real estate to be in overheated territory.
But Deutsche Bank AG Chief China Economist Zhiwei Zhang thinks he's pinpointed "a clear sign of a bubble" in the market — one that will end in a major correction in two years' time.
After analyzing how much developers were willing to spend to win land auctions in 10 major Chinese cities in which values are already up 23 percent year-over-year, the economist found that the business case for these bids evaporates unless property prices continue to increase.

Hop on and find out!

Living in China for so long, we would like to share some of the comparisons that we have found between China and the west, and shed some light on the situation.

Every week, we take you to a new place in China on our bikes, cover a topic, and reply to your questions.

Discount Promo Code: RIDEWITHUS
https://vimeo.com/ondemand/conquering...

Watch Conquering Southern China NOW!
Winston and I ride 5000 km across 5 Chinese provinces and discover crazy food, people and customs!

Tune in, hop on, and stay awesome!
http://www.facebook.com/churchillcustoms
http://www.facebook.com/advchina

Our sister channels:
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How we communicate on the bikes and the gear we use to make the videos:
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[Housecarl]

Why is Everything in CHINA FALLING APART?
Run time (17:49)
https://www.youtube.com/watch?v=o9eXi3RL8q4

ADVChina
Published on Nov 19, 2016
Support us and the channel on Paypal!
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Get 1 week early access to EVERY ADVChina episode by supporting us on Patreon
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Before you come to China, you might have an idea that it will be ancient tea houses, tight alley ways full of culture and history, or people living the same way they did hundereds of years ago.
You'd be wrong.
China is changing, and sometimes too fast. So Winston and I delve into something that we find a little disappointing sometimes, and that is the lack of maintanence in China.
If you go to most old areas, you can almost see the history pouring out from the ancient buildings and temples, but they are almost never maintained. This problem is to the point where we are having a difficult time finding anything that is more than 50 years old, simply because it is all collapsed.

This isn't limited to old things either. Chinese people have had an issue with maintenance with most things for a long time.

Hop on and find out more!

Living in China for so long, we would like to share some of the comparisons that we have found between China and the west, and shed some light on the situation.

Every week, we take you to a new place in China on our bikes, cover a topic, and reply to your questions.

Discount Promo Code: RIDEWITHUS
https://vimeo.com/ondemand/conquering...

Watch Conquering Southern China NOW!
Winston and I ride 5000 km across 5 Chinese provinces and discover crazy food, people and customs!

Tune in, hop on, and stay awesome!
http://www.facebook.com/churchillcustoms
http://www.facebook.com/advchina

Our sister channels:
http://www.youtube.com/SerpentZA
http://www.youtube.com/laowhy86

How we communicate on the bikes and the gear we use to make the videos:
https://www.youtube.com/watch?v=P0VkK...

 

[NCGirl]

The cities there are amazing. They just pop up out of nowhere! Hubby's right hand guy over there bought an apartment just a few years ago for the equivalent of 60k and now it's worth over 200k. Talk about a bubble. He won't sell though because he is in an ideal school district which is so important to them.

 

[Housecarl]

Economic Collapse Confirmed! China Out Of Control Of Global Debt Addiction - 2018 China’s Yuan Crash
Run time (12:53)
https://www.youtube.com/watch?v=ZP2lMXaYVDg

Epic Economist
Published on May 6, 2018
Will The China's Economic Collapse happen in 2018? The economic forecast is more than blake and chinese yuan household debt has reached record heights without any signs of relief. China's yuan debt is staggering to the point most of it will never be repaid. Increasing debt without a concurrent economic gain has inevitably led to the economic collapse.
This could be a death blow for an already weakening chinese yuan, Prepare for economic collapse and China's stock market crash!

Music: CO.AG Music https://www.youtube.com/channel/UCcav...

FAIR USE NOTICE: This video contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law http://copyright.gov/


Ron Paul, who has for years been predicting an economic collapse and stock market crash worse than 2008, says that disaster is coming for this year 2017.
The Economic Doomsday is here. The second financial bubble is going to soon burst, and there’s nothing anyone can do about it. The Federal Reserve has set up the American economy for financial collapse for printing trillions of dollars back in 2008 and 2009.

“The Federal Reserve’s policies of printing trillions of dollars back in ’08-09 have locked into place a serious financial crisis at some point in our future,” Going so far as to intimate the financial collapse and market crash will occur at least some time in the next two years, “It’s unavoidable, and even Donald Trump can’t stop it.”
Top economists predict that within the next 18-24 months, the imminent economic collapse will happen. The Federal Reserve has set up the American economy for financial collapse and market crash for printing trillions of dollars back in 2008 and 2009.
The Federal Reserve’s policies of printing trillions of dollars back in ’08-09 have locked into place a serious financial crisis....

 

[Garryowen]

It's not surprising, given the lack of quality in most Chinese products. Their .gov appears to be running a Ponzi real estate market. I got a very "nice" flashlight several years ago. Loved it, but the insides fell apart. The outside was machined out of aluminum and looked very sturdy, but the working parts were miserable. But, at least I didn't get poisoned by it, like the baby formula that killed infants, and the dog food ingredients they supplied to Hills' that killed hundreds of dogs.

There were pix several years ago of apartment buildings that had simply fallen over on their sides. The vid exposes the scam of making something ornate, that only lasts a couple years. Their buildings simply self-destruct. I could build a better structure with refrigerator boxes. Seriously.

 

[China Connection]

Yep, hyperinflation is going to happen for Europe, China, and the West.


And to keep the masses in order let's start a war and blame everyone except ourselves. However, this time around all the main countries are heavily in debt. Such fun.

 

[Housecarl]

For links see article source.....
Posted for fair use.....
https://www.msn.com/en-us/money/mar...-causing-a-problem/ar-BBUaw2O?ocid=spartanntp

Citylab

China's huge number of vacant apartments is causing a problem

Linda Poon 4 hrs ago

China has a well-documented problem with ghost cities. Across the country, third- and fourth-tier cities are built on the peripheries of crowded metropolises like Shanghai and Beijing, with the promise of becoming economic hubs in their own right. Then they fail to attract businesses and residents, leaving a shell of a city that sits empty. That means millions of unsold housing units, rising property debt, and further fears that the inflated housing market has created a bubble that could soon burst.

But unsold properties aren’t the only problem. There are also tens of millions of units that have been bought—often by entrepreneurs and speculators who have no intention of living in them or renting them out. Some are bought as vacation homes or for single male family members, as it’s traditional for grooms to gift their brides an apartment. But in many cases, buyers hold on to them as investment property, with the hope of eventually selling them for a profit. Kaiji Chen, an economist at Emory University who studies China’s housing market, calls them “ghost apartments.”

These vacant units make up more than one-fifth of China’s entire urban housing stock, according to the latest nationwide housing survey by researchers at Southwestern University of Finance and Economics in Chengdu. That adds up to more than 65 million homes sitting empty nationwide—and they aren’t all in ghost cities. In fact, the survey found the issue to be the most severe in second- and third-tier cities. And if you look at mortgage data, it also includes first-tier cities like Beijing, Shanghai, and Shenzhen, too, says Chen, who wasn’t part of the housing survey.

A main driver for this dilemma is that speculators put faith behind the value of the land that their properties sit on, Chen says. “Land in China is in limited supply, and is controlled by the [local] government,” he says. And buyers know that “the government doesn’t want land to be sold at a cheap price, because that’s revenue for them. So under this expectation, the average household or entrepreneur expects the housing price to increase.”

Property speculation has long plagued China, where many believe that the best place to store wealth is in domestic real estate, given China’s restrictions limiting overseas investments. That’s the other driver, says Chen. Entrepreneurs, for example, often find that returns on housing investment are much higher than investment in their own firms.

According to the nationwide housing survey, people in China devote as much as three-quarters of their savings toward housing—nearly twice as much as in the U.S. Mortgage loans for these vacant units amounted to 10.3 trillion yuan (roughly $1.5 billion) in 2017, about 47.1 percent of all mortgage debt in China. Second-home purchases made up some 44 percent of all home purchases in 2018, up from 27 percent a decade ago. Third-home purchases have grown too, from 3 percent to 25 percent, according to Bloomberg.

Related video: Assessing the health of China's economy (provided by Bloomberg)

All that has contributed to soaring house and rental prices, which are pushing younger, first-time homebuyers out of the market. In recent decades, housing prices have risen nearly twice as fast as disposable income, according to Chen, who authored a report on the China’s housing boom in 2014 for the Federal Reserve Bank for St. Louis.

That made curbing house prices one of China’s top priorities in 2017, spurred by concerns of a collapsing property market and the larger implications on the rest of the country’s economic growth. The government’s efforts to address this include limiting how many houses a family can own in crowded cities, raising down-payment requirements and mortgage interest rates, and other measures targeting speculators.

Also in 2017, President Xi Jinping delivered his now-famous mantra that “houses are built to be inhabited, not for speculation.” Last year, the government launched a six-month crackdown on property speculation in 30 cities, targeting developers and real estate agencies that encourage speculation through tactics like false advertising.

Still, average new home prices in 70 large and medium-sized cities have continued to grow, albeit at a slightly slower pace. Data from China’s National Bureau of Statistics show that the average prices increased 0.61 percent from December to January, down from 0.8 percent between November and December—the slowest pace in 9 months.

Chen says two cities, Shanghai and Chongqing, have experimented with one solution: levying property taxes like in the U.S. Both cities’ policies were limited, though: Shanghai’s only applied to second-home purchases, while Chongqing taxed only the most expensive homes that cost more than double the city’s average home price. The impact, according to Beijing’s business news site Cai Xin Global, has largely been ineffective given that the amount of tax collected has been low and that housing prices have continued growing.

Meanwhile, rolling out a nationwide tax as the government initially planned in its 2013 blueprint for economic reform is more complicated, and has sparked numerous debates. For starters, there are technical questions, as noted by Bloomberg opinion columnist Nisha Gopalan: Should the tax be based, for example, on market value or the much-lower purchase price for existing homes?

Then there’s the problem of timing. It could lead to a deepening slump in the housing market amid an economic slowdown thanks in part to trade tensions with the U.S. Or worse, it could lead to a massive sell-off of unoccupied units and send housing prices tumbling, effectively bursting the housing bubble.

Still, Chen doesn’t think property taxes alone will solve China’s vacant housing issue, as it doesn’t solve those two underlying issues “One, the Chinese financial market is not perfect,” he says, referring to the lack of alternative high-return investment opportunities. And two, China’s land supply policy has formed people’s expectation about the stability of the housing market. “People understand that the government doesn’t want the housing market to crash,” he says.

Related gallery: Inside the 'coffin homes' of the world's most expensive city (provided by Lovemoney)

Linda Poon is an assistant editor at CityLab covering science and urban technology, including smart cities and climate change. She previously covered global health and development for NPR’s Goats and Soda blog.