"Three Generations of Savings; WIPED ...

"Three Generations of Savings; WIPED OUT"

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OCCUPY TIANNAMEN

Surrey, Canada

#1 Apr 2, 2013
China building mega cities but they remain empty ghost towns

From: News Limited Network
April 03, 2013 10:00AM

The Chinese middle class is investing so much in property the government has enforced a one apartment rule. Picture: 60 Minutes/CBS


CHINA is building new cities at an estimated rate of up to 12 to 24 a year - but while they are full of brand new homes and facilities, nobody wants to live there.

A recent CBS 60 Minutes report in the US exposed dozens of new cities in China sitting empty - with the apartments snapped up as investments by the nation's wealthy middle class, then sitting empty as the owners fail to find tenants who can meet the rent.

Financial experts fear the ghost town explosion will lead to a housing bubble burst, following China's real estate boom which came after the government changed its policy 15 years ago and allowed people to buy their homes.

The middle class saw real estate as a solid investment, more stable than the sharemarket and offering better returns than the banks.

China Ghost Cities

China is building an estimated 12 to 24 new cities every year, but many are completely empty. Picture: 60 Minutes/CBS
..
Government laws do not allow the Chinese to invest overseas.

Hong Kong-based financial analyst Gillem Tulloch said while the initial boom provided good returns, he fears the bubble is about to burst.

"What they (the wealthy middle class) do is they invest in property because property prices have always gone up by more than inflation," he told CBS's 60 Minutes.

...
OCCUPY TIANNAMEN

Surrey, Canada

#2 Apr 2, 2013
...

China Ghost Cities

The Chinese city of Zhengzhou, where the apartments are all sold, but practically no one lives there. Picture: 60 Minutes/CBS
..
"It's the main driver of growth and has been for the last few years. Some estimates have it as high as 20 or 30 per cent of the whole economy.

"I think they're building somewhere between 12 and 24 new cities every year."

But the huge growth has let to a glut of not just apartments, but entire towns and has forced the government to bring in a one-apartment law, where people can own just one property.

In Inner Mongolia, developers built the city of Ordos for one million people. But most of it remains empty.

Early last year the BBC reported Ordos was the largest ghost town in China, and that the housing bubble there had already burst.

Mr Tulloch told 60 Minutes China's government had spent an estimated US$2 trillion to build the cities and to keep the country's economy going.

"They've simply built too much infrastructure too quickly," he said.

"People are being moved into the cities but that doesn't necessarily mean they can afford these apartments which cost US$100,000. These are poor people moving into the cities, so they're building the wrong kind of apartments.

"There are multiple classes of people that are going to get wiped out by this, people who have invested three generations' worth of savings into properties will see their savings evaporated."

Read more: http://www.news.com.au/travel/world/china-bui...
lct

Beijing, China

#3 Apr 2, 2013
liar.
It is Amazing

Kuala Lumpur, Malaysia

#4 Apr 2, 2013
OCCUPY TIANNAMEN wrote:
...
China Ghost Cities
The Chinese city of Zhengzhou, where the apartments are all sold, but practically no one lives there. Picture: 60 Minutes/CBS
..
That is because of the lack of understand of these BTS concept which is starting to appear in Malaysia and in many countries as well.

The only difference is in China everything is MASSIVE starting from the THREE GORGES DAM.

Come back in a few years and you see, everything have changed. There is a flurry of activities in these so-called Ghost Cities.

As long as CAPITALISM exists in any part of the world, there will be GREEDY individual and not Chinese alone.

We China needed is a strong enforcement and inspectorate teams but it is easier said than done as China has 2 million factories alone.

You cannot be treated posting those NEGATIVE things in here.

It does not concern us.

We are not SHRINK!

Like I says...

You need to see a headshrinker and urgently!

While you are there,check with the oncologist as well.

Otherwise it will spread to the rest of your body soon.
CCP are USELESS

Surrey, Canada

#5 Apr 2, 2013
lct wrote:
liar.
"There are multiple classes of people that are going to get wiped out by this, people who have invested three generations' worth of savings into properties will see their savings evaporated."
It is Amazing

Kuala Lumpur, Malaysia

#6 Apr 2, 2013
CCP are USELESS wrote:
<quoted text>
"There are multiple classes of people that are going to get wiped out by this, people who have invested three generations' worth of savings into properties will see their savings evaporated."
DO tell me, you are really concern? Hahahaha

Anyway so what?

You are really sickman and needed MEDICAL ATTENTION!

All your silly politics does not concern or affects anyone of us in here.
CCP not needed in CHINA

Surrey, Canada

#7 Apr 2, 2013
So it's "not my concern" that "There are multiple classes of people that are going to get wiped out by this, people who have invested three generations' worth of savings into properties will see their savings evaporated."?

How do you know that, you Wu Mao Dang moron?

Or do you mean you are paid to hide it?
It is Amazing

Kuala Lumpur, Malaysia

#8 Apr 2, 2013
CCP not needed in CHINA wrote:
So it's "not my concern" that "There are multiple classes of people that are going to get wiped out by this, people who have invested three generations' worth of savings into properties will see their savings evaporated."?
How do you know that, you Wu Mao Dang moron?
Or do you mean you are paid to hide it?
Still it not our concern!

How does it affect you and me in here?

You are really sick and need to see a doc.
CCP makes CHINA STUPID

Surrey, Canada

#9 Apr 2, 2013
It is Amazing wrote:
<quoted text>
Still it not our concern!
How does it affect you and me in here?
You are really sick and need to see a doc.
So how much ARE you paid by the Chinese Communist Party propaganda organs for your Wu Mao Dang "Public Guidance" work here?

Is it REALLY still only half a RMB or SIX PATHETIC US PENNIES FOR EACH POST, or did you get a RAISE?

HA HA HA HA HA HA HA HA!
It is Amazing

Kuala Lumpur, Malaysia

#10 Apr 2, 2013
Still did not answer the question?

How does it affects you or anyone of us in here?

And so what?

You are really sickman and needed MEDICAL ATTENTION!

All your silly politics does not concern or affects anyone of us in here.
CCP makes China WEAK

Surrey, Canada

#11 Apr 3, 2013
Hah! Do you decide what does or does not concern others now, "Comrade"?

Forgetting you are powerless without the CCP's thuggery and that this is a free forum in the free West?

I love China and I lived there for several years, and believe it could be a truly great nation once freed of the dead, bloody, stifling hand of the Chinese Communist Party dictatorship.

You? Some whiney Chinese shopkeeper in KL who's never been to China?

Pah!
lct

Beijing, China

#12 Apr 3, 2013
It is Amazing wrote:
<quoted text>
Still it not our concern!
How does it affect you and me in here?
You are really sick and need to see a doc.
i am sure they won't pay you two salary, miro.
IPENES getting stupid

Kuala Lumpur, Malaysia

#13 Apr 3, 2013
CCP makes China WEAK wrote:
Hah! Do you decide what does or does not concern others now, "Comrade"?
Forgetting you are powerless without the CCP's thuggery and that this is a free forum in the free West?
I love China and I lived there for several years, and believe it could be a truly great nation once freed of the dead, bloody, stifling hand of the Chinese Communist Party dictatorship.
You? Some whiney Chinese shopkeeper in KL who's never been to China?
Pah!
That is another LIE! If you love your parent, you would not have FORSAKE them whatever the reason may be. SO STOP your BS and answer me, how does internal affairs of Chinese in China concern you and me?

Hahaha Now I am a Chinese Shopkeeper and you are a MAMASAN! hahahah

You are truly sick and getting wild!

You need to see a psychiatrist before it gets any worse.

The overall effect may be terminal and you better consult an Oncologist as well. It appear to have spread to your brain if they are still working.
It is Amazing

Kuala Lumpur, Malaysia

#14 Apr 3, 2013
CCP makes China WEAK wrote:
Hah! Do you decide what does or does not concern others now, "Comrade"?
Forgetting you are powerless without the CCP's thuggery and that this is a free forum in the free West?
I love China and I lived there for several years, and believe it could be a truly great nation once freed of the dead, bloody, stifling hand of the Chinese Communist Party dictatorship.
You? Some whiney Chinese shopkeeper in KL who's never been to China?
Pah!
And I lived in the Canada, USA and the MOON for several years in my life.

Do you know you can actually FLY?

Time to take your medicine!
Old Jew

San Francisco, CA

#15 Apr 3, 2013
Those "Ghost Cities" are almost all filled and they are hot. Just like at first there were vacancies in the High Speed Rail now there is standing room only and nearly always filled 24/7 according to my friends who has been there.
CCP are BANDITS

Port Moody, Canada

#16 Apr 3, 2013
Old Jew wrote:
Those "Ghost Cities" are almost all filled and they are hot. Just like at first there were vacancies in the High Speed Rail now there is standing room only and nearly always filled 24/7 according to my friends who has been there.
Your friends in the Chinese Communist Party "Public Guidance" department paid you to say such a stupid thing easily disproved by the recent satellite photos?

They must have paid a LOT to get you to humiliate yourself with such a feeble and obvious lie!

How much did you get?
CCP really SUCKS

Surrey, Canada

#17 Apr 3, 2013
It is Amazing wrote:
<quoted text>
And I lived in the Canada, USA and the MOON for several years in my life.
Do you know you can actually FLY?
Time to take your medicine!
I THOUGHT SO!

Anyone who supports the corrupt and mass-murdering thieves of the Chinese Communist Party as slavishly and brainlessly as YOU DO must be TOTALLY INSANE!

Did you meet your owner Mao Zedong on the moon "Comrade Lunatic"?

HA HA HA HA HA HA HA HA!
It is Amazing

Kuala Lumpur, Malaysia

#18 Apr 3, 2013
Whether CCP or CIA or Obama "Read my lips" are LIARS or really sucks does not concern me and I do not see why it should concern you!

Each nation to each own.

That is precisely why everybody is AVOID you like AIDS!

You are MENTALLY ILL and needs to see a PSYCHIATRIST quick.

Everything you posted so far does not concern anyone of us and we FAIL to understand what has it got to do with you.

With so much BAD WISHES and FEELING cast at others!!!

There is so much NEGATIVENESS in you that I advise you to consult an ONCOLOGIST as well when you are doing a medical checkup for the brain. It may have spread to the rest of your body.
CCP is DYING

Port Moody, Canada

#20 Apr 4, 2013
Tell us more about your life on the moon and thereby clearly illustrate your own sanity, please!

HA HA HA HA HA HA HA!
OCCUPY TIANNANMEN

Port Moody, Canada

#21 Apr 4, 2013
It is Amazing wrote:
<quoted text>
And I lived in the Canada, USA and the MOON for several years in my life.
Do you know you can actually FLY?
Time to take your medicine!
Yes, it certainly is time to take your medicine!

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