Satellite Pictures Of The Empty Chinese Cities Where Home Prices Are Crashing

business insider ^ | Dec. 7, 2011 | Gus Lubin

[george76]

The long-predicted crash has arrived with a vengeance in China's original ghost city.

Home prices have plunged by one third recently, down 60% from 2006, in Kangbashi, the ambitious second city built on the outskirts of Ordos. Developers, investors and migrant workers are all giving up on Kangbashi.

"Ordos is the first of a number of these ghost cities that will see similar magnitude price declines

[null and void]

Send them our #occupy people...

[sickoflibs]

RE :"Send them our #occupy people..."

Similar thoughts, maybe OWSers should try to take over these.

[Former Proud Canadian]

The crash in China has just begun.

Wait until unemployment and inflation hits. Food prices go up and real wages go down. Millions of hungry people.

[who_would_fardels_bear]

Once again croneyism and corruption lead to misallocation of resources.

It would have been nice if we had learned that lesson a hundred or so years ago. Maybe we did know it at one time, but we seem to have forgotten it for quite a while.

[ought-six]

And China is becoming evermore bellicose, and is now claiming the entire South China Sea as its own; it has even openly made comments that it will side with Iran in any conflict Iran has with the West.

China is gearing up to fight us, and we have an incompetent in the White House, a cowardly appeaser who daily trots out some new brainfart to weaken the United States.

[Don Corleone]

China is in more desperate financial/civil trouble than the USA by a factor of at least 10. Their entire population, 4 times that of the USA is crammed into an area equivalent to ours east of the Mississippi.The rest of the country, also about the size of the USA is barren and unlivable. The male population is growing very restless because of the lack of females due to the one child policy. Border countries like Siberia,which the Russians would have a problem defending, Vietnam , Laos, all of SE Asia along with Taiwan are prime targets both for material gain and to relieve the pressure on the batchelors by putting them to work at conquest. The South China Sea may become the next hotbed of conflict. It is one of the most important sea lanes in the world. JMHO.

[AlaskaErik]

Wait until unemployment and inflation hits. Food prices go up and real wages go down. Millions of hungry people.

And a lopsided male to female ratio that assures millions and millions of Chinese men will never find a woman to marry.

[bgill]

And a lopsided male to female ratio that assures millions and millions of Chinese men will never find a woman to marry.

That's another lesson they have failed to learn.

[Right Wing Assault]

People still can’t afford them, I imagine.

[Breto]

They need Barny Frank and Chris Dod to arraigns sub prime loans then send them a whole bunch of illegals to make them too...

[hinckley buzzard]

China is heading toward civil unrest with its potemkin economy collapsing, as predicted here for several years now. But lets be clear--They have no means to "fight us" and will soon have their hands full at home. They will continue to put pressure on their neighbors so we better be alert. But they are following a time-honored pattern of directing bellicosity toward external threats ginned up to override domestic divisions.

[org.whodat]

How is that, the majority of the Chinese are substance farmers. I Have never understood why the united states imports food from china.

[nutmeg]

bookmark

[org.whodat]

That is not true, when you consider the historical number of males that never marry in all societies. But it does serve as a good attention grabber.

[txhurl]

The photos at link are stunning - 28 of them. Looks like a major zombie preparedness plan.

[Levante]

After reading your grim but accurate assessment, I had one thought:

Australia needs nuclear weapons. Badly.

[COBOL2Java]

And a lopsided male to female ratio that assures millions and millions of Chinese men will never find a woman to marry.

Once the SHTF in America and civil war erupts, what's to stop the ChiComms from invading the west coast? Then Pooti can reclaim Alaska for the motherland, and the Aztlan folks carve up the rest of the soutwest. With a balkanized USA, how do we defend ourselves?

[fella]

“The crash in China has just begun.
Wait until unemployment and inflation hits. Food prices go up and real wages go down. Millions of hungry people.”

This is how mass migrations like that of the Huns begins

[em2vn]

“Home prices have plunged by one third recently, down 60% from 2006, in Kangbashi . . . .”
Is the author saying that prices have recently plunged by 40% or is he saying that a recent plunge of an unspecified amount has taken prices down to 40% of their 2006 value?