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50 Million Empty Homes In China, Third-Home Purchases Soar

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Published : November 11th, 2018
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There are more than 50 million vacant homes in China. An amazing 69% of recent purchases are second or third homes.

Soon-to-be-published research will show roughly 22 percent of China’s urban housing stock is unoccupied, according to Professor Gan Li, who runs the main nationwide study. That adds up to more than 50 million empty homes, he said.

The nightmare scenario for policy makers is that owners of unoccupied dwellings rush to sell if cracks start appearing in the property market, causing prices to spiral. The latest data, from a survey in 2017, also suggests Beijing’s efforts to curb property speculation -- considered by leaders a key threat to financial and social stability -- are coming up short.

Shop Till You Drop

Pure Speculation

An amazing 69% of recent home purchases have been second or third homes.

A housing bust is coming and it will hit China hard.

 

Source : moneymaven.io
Data and Statistics for these countries : China | All
Gold and Silver Prices for these countries : China | All
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IMG Auteur
Mish 13 abonnés
Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. He writes a global economics blog which has commentary 5-7 times a week. He also writes for the Daily Reckoning, Whiskey & Gunpowder, and has over 80 magazine and book cover credits. Visit http://www.sitkapacific.com
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