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China's Ghost Cities
The hottest market in the hottest economy in the world is Chinese real estate. The big question is how vulnerable is this market to a crash?
One red flag is the vast number of vacant homes spread through China - by some estimates up to 64 million vacant homes.
"There’s city after city full of empty streets and vast government buildings, some in the most inhospitable locations. It is the modern equivalent of building pyramids."
Satellite photos of these unnerving places have been taken based on a report from Forensic Asia Limited. They call it a clear sign of a bubble!
See an amazing slide show of satellite images of the Ghost Cities of China below.
Another alarming fact is that Chinese men outnumber women by 39 million -- over ten times the population of Los Angeles. Thanks to a One Child policy that lets families try again if their first child was a girl, China has a skewed birth rate. Abortions based on gender and other illegal measures make the ratio even worse.
Slide show:
http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12?slop=1#slideshow-start
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