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There are about 65 million unoccupied apartments in China. I think they are new or pretty new. What will occupy these apartments in the future?
No one. The Chinese will keep speculating their real estate bubble until it burst. They can't help it because gambling is in their blood. This is why casinos across the world are overrun with Chinese...they are addicted to gambling. This is also why lots of Chinese are into soccer/football as spectators (because they bet on the games) and hardly any Chinese play football themselves or allow their precious boys to participate in the sports. China, with so many people, can't even field a half way decent national football team because there are so few real players and so much betting corruption in their system (even Thailand can beat them in the past!!!!).
The bubble will burst and China's economy will take a huge hit. Eventually, the government will nationalize these apartments and subsidize them to poor peasants. Rich Chinese will continue to ship their wealth and themselves out of China.
I think the ghost cities were the results of frauds and corruptions: the state owned banks keep lending to state owned developers into projects that have no future from the very beginning -- all from the same group of local officials lying to their bosses into wasting money.
Here's how it looks like when a group of roller skaters making better use of it:
As long as they control their own currency, and can just print it out or contract it whenever, they does it really matter they just built these places for no reason?
It's concentrated on some cities. Not really a widely spread problem.
Zhengzhou used to have a ghost city too, and the media made a big deal about it. However now it is crowded as hell there.
This is probably a dumb question but I wonder if it is safe to have a place there with so few people in an urban area.
It's probably mostly unlivable and is comparable to a post-apocalyptic world when vast majority of population is gone following to a major war or a major disaster.
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