The Truth Denied Breaking News

China may have the largest housing bubble in history of the world!

It is being reported that 64.5 million urban electricity meters registered zero consumption over a recent, six-month period in China. That led to a theory that China has enough empty apartments to house 200 million people. The story is related to the housing bubble, as the CAIXIN TABLOID reported in the summer of 2012.

An alarming report by  Lesley Stahl of  60 Minutes not only walks us through the abandoned city streets, but explains   how there are now entire cities being created all over China with no one living in them. “Statistical transparency is lacking in this area, so the truth about empty apartments remains under wraps. Publishing accurate data should be of the highest priority, since the size of the nation’s unused apartment stock is perhaps the most important measure of the extent and seriousness of China’s property market bubble. Indeed, it’s a grave concern for policy making, since unpublished data may indicate not only a price bubble but a quantity bubble burdening the market.”

There is major concern for the Chinese middle-class. The middle class have invested massively in property and now estimates suggest that property invest accounts for as much as 20-30% of the economy. As many as 24 new cities are being built every year! The Government has allowed this expansion to continue to keep the economy growing but the level of infrastructure development is far ahead of the demand for property.

As many as 24 new cities are being built every year! How is this possible ? The Chinese  Government has allowed for this  this expansion to continue i order  to keep their economy growing but the level of infrastructure development is far ahead of the demand for property.

12-20-2015 UPDATES