From the Business Insider:
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.
We've tracked down satellite photos of these unnerving places, based on a report from Forensic Asia Limited. They call it a clear sign of a bubble: "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. With 20 new cities being built every year, we hope to be able to expand our list going forward."
No cars on the street
Empty $19 Billion Development
Empty Desert City
Empty Residential Towers
Ordos Museum...Empty
Photo credits belong to the Business Insider
The Ghost Cities of China
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A guest says:
I’ve been to Zhengzhou New District, it’s not a ghost town. Look closely at the 2nd photo, you see few cars but more in numbers are the bicycles and motorcycles, norm in terms of transportation in central China.
Ordos is in Inner Mongolia, one of the least populated area in China, where sheep outnumber human. Ordos, known for it's wool sweaters (made by people), is also not a ghost town.
Goto image dot baidu dot com and search by these city name, you’ll see pictures of busy streets.
A guest says:
China has a problem with ghost citites and vacant property, and that is a fact.
http://www.youtube.com/watch?v=yzRvVaxA1dI
In your second paragragh, where you refer to Ordos, it's a known fact Ordos itself isn't empty: it's New Ordos, built right by, that's empty.
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