China’s ghost cities and shopping malls – 14 million empty housing units in the U.S. while China may have up to 64 million empty apartments. GDP is only as good as the quality behind the financial numbers. China real estate bubble.

MyBudget360.com

The Census released data showing that 14 million housing units in the U.S. are categorized as being vacant.  As startling as this figure appears on the surface, China has an estimated 64 million empty apartment units.  As we enter a perpetual cycle of global financial bubbles, the largest ongoing bubble in the world at the moment is likely to be in Chinese real estate. 

China has grown from having a GDP of $1 trillion in 1999 to well over $5 trillion today making it the second largest economy in the world.  Yet as we will examine in this article simply having a large GDP does not necessarily mean a robust economy.  Many Americans thought home values would remain elevated but once reality took over prices came crashing down in dramatic fashion putting household balance sheets into a tailspin that we have yet to recover from. 

China in order to keep up with growth demands from their central government and investment demand is building at a pace where many areas including entire cities remain largely empty.
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