YouTube vlogger and old China hand ‘Serpentza’ tells us something new about China’s ‘ghost cities.’ But first a brief overview: Ordinary Chinese people are now able to save money - something undreamed of a couple of generations ago. 70% of it is in real estate, because other investment vehicles are illegal (e.g Bitcoin) or risky (e.g. the frequently crashing stock market.) Investors look to buy and sell apartments, not live in them. There are some 65 million units standing empty.
Chinese real estate and superstition
Chinese real estate and superstition
Chinese real estate and superstition
YouTube vlogger and old China hand ‘Serpentza’ tells us something new about China’s ‘ghost cities.’ But first a brief overview: Ordinary Chinese people are now able to save money - something undreamed of a couple of generations ago. 70% of it is in real estate, because other investment vehicles are illegal (e.g Bitcoin) or risky (e.g. the frequently crashing stock market.) Investors look to buy and sell apartments, not live in them. There are some 65 million units standing empty.