Uban construction gone wrong: China's empty city

Those look like really nice homes and apartments. I understand the people staying away because of high prices, but I bet its more than that. Eventually the China government will place some people there.

They have multiple empty cities over there. Click here for a brit article with sat pictures of some of them. (dailymail) I'm not sure that bizarre is the right word to describe those areas.

This isn't surprising. Housing in China is a wacky market. Hong Kong aside (which doesn't count, because they use their own currency and are not really China proper). Cities like Shanghai, Beijing, etc. have housing costs that are on par with U.S. housing costs. This is largely due to white-collar immigrants in the U.S. sending money to their families back home, and ex-pats going back and buying prime real estate there, as well as the upper class in China being extremely wealthy. Seeing housing markets do so well in those cities, but having issues with overpopulation, they tried to build out these new cities and alternatives for people to go to. However, having a $150,000 (US Dollar) homes may be fine for Beijing and Shanghai where wealthy westerners want to buy houses, but having similar prices in a new city doesn't make much sense when a college educated person in China working as an Engineer clears $300 a month, if they're lucky.

Re: Urban construction gone wrong: China's empty city

Was also reading that they forgot to have schools, hospitals, high-speed internet etc.

http://io9.com/#!5790596/watch-jarring- ... host-towns
More footage from a "Datline: Australia".

Vast new cities of apartments and shops are being built across China at a rate of ten a year, but they remain almost completely uninhabited ghost towns. It's all part of the government's efforts to keep the economy booming, and there are many people who would love to move in, but it's simply too expensive for most. Video journalist Adrian Brown wanders through malls of vacant shops, and roads lined with empty apartment buildings… 64 million apartments are said to be empty across the country and one of the few shop owners says he once didn't sell anything for four or five days.

Click to expand...

What's crazy is no one is living there but they are still building things like a museum.