China's Glittering Bubble of Boom -- Is a Crash round the Corner??

China's Glittering Bubble of Boom -- Is a Horrible Almighty Crash round the Corner??

The developers in china, with the high command's blessings built literally TRILLIONS of dollars of property in a span of just 5 years .... mostly on credit from banks....

Now there's no one to buy the houses... there is 55% vacancies while people are still living in slums-- reason being, the property prices have rocketed into the seventh heaven (once  it rose by 16000 dollars per unit in a single day!!), making it impossible for middle class to buy any house in those ample skyscrapers!!

Result-- China's massive ghost towns!! The local municipalities itself at present owe AROUND A BILLION DOLLARS to the property developers for construction in the city!!
It seems that everyone is owing everyone (Credit bubble) and no one has money to pay anyone!!! The bubble if bursts in the coming years, shall be the biggest world has ever witnessed, bigger than even US property bust in 2005!

China's Ghost Towns.... 

 According to an estimate,
 there was a new skyscraper built every two days,

A city the size of Rome built every 2 weeks!!

In just 10 years they built so many homes that each existing house holder could have one more and still there would be 90000 units left!!

Have a look in the video below!!

http://youtu.be/GpnoPhY1f70

Want to do business in china? watch this before spending your hard earned money!

http://youtu.be/y66gE3UWQWc

From rags to riches....
And then back to rags!! 

The bust has already started in 2011...

Watch the story of a successful restaurateur in rural china who became an instant millionaire in the land boom... everything was hunky dory.. and after a year she was rummaging through the city garbage bins to earn something.. anything... she didn't have enough money even to get medical treatment for something as simple as dehydration! Watch her and many other similar stories here!

http://youtu.be/-a9Xuyw9l3Y