Beijing has 50% more Vacant Housing than ALL the US

JimBowie1958

Old Fogey
Sep 25, 2011
63,590
16,752
2,220
Beijing Alone Has 50% More Vacant Housing Than The US | ZeroHedge

From the (less than credible) NAR:

Total housing inventory at the end of April rose 9.5 percent to 2.54 million existing homes available for sale, a seasonal increase which represents a 6.6-month supply at the current sales pace, up from a 6.2-month supply in March. Listed inventory is 20.6 percent below a year ago when there was a 9.1-month supply; the record for unsold inventory was 4.04 million in July 2007.​

Meanwhile, half a world away, from a just released report in Beijing News (google translated):

The Beijing Public Security Bureau Population Administration Department said yesterday that have checked the information of the mobile population 725.5 million, mark the rental housing 1.39 million, checking vacant houses to 3.812 million.

So, broadly speaking: US: 2.5 million available homes; Beijing - one city in China - has 3.8 million??

Is it really that bad over there? Or is something lost in translation? If true, this is a huge bubble popping.
 
Last edited:
Beijing Alone Has 50% More Vacant Housing Than The US | ZeroHedge

From the (less than credible) NAR:

Total housing inventory at the end of April rose 9.5 percent to 2.54 million existing homes available for sale, a seasonal increase which represents a 6.6-month supply at the current sales pace, up from a 6.2-month supply in March. Listed inventory is 20.6 percent below a year ago when there was a 9.1-month supply; the record for unsold inventory was 4.04 million in July 2007.​

Meanwhile, half a world away, from a just released report in Beijing News (google translated):

The Beijing Public Security Bureau Population Administration Department said yesterday that have checked the information of the mobile population 725.5 million, mark the rental housing 1.39 million, checking vacant houses to 3.812 million.

So, broadly speaking: US: 2.5 million available homes; Beijing - one city in China - has 3.8 million??

Is it really that bad over there? Or is something lost in translation? If true, this is a huge bubble popping.

Bubble popping?

Even if this is true..which I doubt..China's a bit different then this country.

If you don't have the money..you can't live in the big cities.

This isn't unique to China by the way..most third world nations with nice urban areas keep the "riff raff" out.
 
Beijing Alone Has 50% More Vacant Housing Than The US | ZeroHedge

From the (less than credible) NAR:

Total housing inventory at the end of April rose 9.5 percent to 2.54 million existing homes available for sale, a seasonal increase which represents a 6.6-month supply at the current sales pace, up from a 6.2-month supply in March. Listed inventory is 20.6 percent below a year ago when there was a 9.1-month supply; the record for unsold inventory was 4.04 million in July 2007.​

Meanwhile, half a world away, from a just released report in Beijing News (google translated):

The Beijing Public Security Bureau Population Administration Department said yesterday that have checked the information of the mobile population 725.5 million, mark the rental housing 1.39 million, checking vacant houses to 3.812 million.

So, broadly speaking: US: 2.5 million available homes; Beijing - one city in China - has 3.8 million??

Is it really that bad over there? Or is something lost in translation? If true, this is a huge bubble popping.

Bubble popping?

Even if this is true..which I doubt..China's a bit different then this country.

If you don't have the money..you can't live in the big cities.

This isn't unique to China by the way..most third world nations with nice urban areas keep the "riff raff" out.

Sallow, the Chinese government is trying to sustain their economy by commanding their private sector to continue building even wihen they have no demand for housing.

All that happens is that they crate huge cities with few if anyone living in them that many refer to as ghost towns.

Chinese ghost towns:
Ghost towns of China: Satellite images show cities lying completely deserted | Mail Online

Pics of these ghost towns:
https://www.google.com/search?q=Chi...WNYHh0QGwhODMDQ&ved=0CFgQsAQ&biw=1536&bih=717

This policy has apparently created a huge backlog of available housing in each of the cities as well.

But I find the idea of nearly four million units unoccupied in just one city to be just mind boggling.
 
Beijing Alone Has 50% More Vacant Housing Than The US | ZeroHedge



Is it really that bad over there? Or is something lost in translation? If true, this is a huge bubble popping.

Bubble popping?

Even if this is true..which I doubt..China's a bit different then this country.

If you don't have the money..you can't live in the big cities.

This isn't unique to China by the way..most third world nations with nice urban areas keep the "riff raff" out.

Sallow, the Chinese government is trying to sustain their economy by commanding their private sector to continue building even wihen they have no demand for housing.

All that happens is that they crate huge cities with few if anyone living in them that many refer to as ghost towns.

Chinese ghost towns:
Ghost towns of China: Satellite images show cities lying completely deserted | Mail Online

Pics of these ghost towns:
https://www.google.com/search?q=Chi...WNYHh0QGwhODMDQ&ved=0CFgQsAQ&biw=1536&bih=717

This policy has apparently created a huge backlog of available housing in each of the cities as well.

But I find the idea of nearly four million units unoccupied in just one city to be just mind boggling.

You went from Bejing to another topic entirely.

China's been playing "catchup" for quite some time now. Yep..they are building cities in areas where there were none before. And they are fully planned out..

Some get filled up quickly..some don't.

But you'd know what they were doing if you'd been there. China considers itself behind the rest of the world in terms of being a modern industrial nation. And this is their heavy handed way of rectifying that. Personally? I think it's not very well thought out. The people they expect to populate these modern cities are use to small village life. That was apparent at the EXPO I attended a few years ago. They don't wait in lines, they spit everywhere and are pretty crude.

:lol:
 
The people they expect to populate these modern cities are use to small village life. That was apparent at the EXPO I attended a few years ago. They don't wait in lines, they spit everywhere and are pretty crude.



Those are behaviors not at all from or limited to people from small villages. There are long standing habits that the government has been trying to discourage as they worry more about their international image (there was a very big anti-rudeness push prior to the Beijing Olympics).
 
If you don't have the money..you can't live in the big cities.




Lots and lots and lots of poor people live in China's big cities.

And they are being "pressured" to move out.

A good example of that is Aberdeen Bay in Hong Kong. I was there before the Chinese took over..and after.

Before they took over..there was a huge community of people that lived on boats in the bay. They were dirt poor. After the Chinese took over..they were gone.

I've been to Shanghai several times..and each subsequent trip finds Shanghai more modern and with less poor people.
 
If you don't have the money..you can't live in the big cities.




Lots and lots and lots of poor people live in China's big cities.

And they are being "pressured" to move out.



No they're not. More and more poor people are moving from the countryside to big cities in search of jobs. The CCP is trying to keep them out of eyeshot from your tour bus, but they are there. Some have even taken to squatting in some of the newly built but empty housing in these big cities.
 
China's Central Planing against American Central Bankers. Who will destroy their country FIRST?

I'm betting on the Bankers in a squeaker.
 

yes but the population is flooding into the cities, and they have 5 times the economic growth we have and it has been consistent for 30 years!!

"In many cases when you look at these buildings and say, that’s never going to be fully occupied, somehow 12 to 18 months later the building is full,” said Chris Brooke, CB Richard Ellis’s Beijing-based president and chief executive officer for Asia."
 
Last edited:
Beijing Alone Has 50% More Vacant Housing Than The US | ZeroHedge

From the (less than credible) NAR:

Total housing inventory at the end of April rose 9.5 percent to 2.54 million existing homes available for sale, a seasonal increase which represents a 6.6-month supply at the current sales pace, up from a 6.2-month supply in March. Listed inventory is 20.6 percent below a year ago when there was a 9.1-month supply; the record for unsold inventory was 4.04 million in July 2007.​

Meanwhile, half a world away, from a just released report in Beijing News (google translated):

The Beijing Public Security Bureau Population Administration Department said yesterday that have checked the information of the mobile population 725.5 million, mark the rental housing 1.39 million, checking vacant houses to 3.812 million.

So, broadly speaking: US: 2.5 million available homes; Beijing - one city in China - has 3.8 million??

Is it really that bad over there? Or is something lost in translation? If true, this is a huge bubble popping.

That's probably correct. I read a few years ago that total empty homes in China was something like 80 million. That number was calculated based on the estimated electricity used per household relative to those households with little electricity consumption, i.e. if a house is empty, it uses a fraction of energy an occupied house uses.

There is a pretty big housing bubble in China and it appears to be deflating. In secondary and tertiary cities, home prices are down by 25% to 30%, based on some reports. Whether or not it takes down the economy remains to be seen, but oil falling from $105 to $81 in less than a month is a pretty good indicator of problems.

However, the Chinese economy is different. Homes are used as a savings vehicle. Keeping money in the bank is essentially expropriation as inflation runs higher than deposit rates. Plus, since the banks are controlled by the Chinese government, people trust the banks less than they do here.
 
Bubble popping?

Even if this is true..which I doubt..China's a bit different then this country.

If you don't have the money..you can't live in the big cities.

This isn't unique to China by the way..most third world nations with nice urban areas keep the "riff raff" out.

Sallow, the Chinese government is trying to sustain their economy by commanding their private sector to continue building even wihen they have no demand for housing.

All that happens is that they crate huge cities with few if anyone living in them that many refer to as ghost towns.

Chinese ghost towns:
Ghost towns of China: Satellite images show cities lying completely deserted | Mail Online

Pics of these ghost towns:
https://www.google.com/search?q=Chi...WNYHh0QGwhODMDQ&ved=0CFgQsAQ&biw=1536&bih=717

This policy has apparently created a huge backlog of available housing in each of the cities as well.

But I find the idea of nearly four million units unoccupied in just one city to be just mind boggling.

You went from Bejing to another topic entirely.

No, I went to a larger context and then returned to reference the specifics of my original statement.

China's been playing "catchup" for quite some time now. Yep..they are building cities in areas where there were none before. And they are fully planned out..

Some get filled up quickly..some don't.

But you'd know what they were doing if you'd been there. China considers itself behind the rest of the world in terms of being a modern industrial nation. And this is their heavy handed way of rectifying that. Personally? I think it's not very well thought out. The people they expect to populate these modern cities are use to small village life. That was apparent at the EXPO I attended a few years ago.

Lol, no one is ever going to inhabit all those ghost towns which why they are still ghost towns after years of being done. And the markets are proving this by the collapse of real estate prices and interest rates.

They don't wait in lines, they spit everywhere and are pretty crude.

:lol:

That's RACISM, lol.

/jk
 

yes but the population is flooding into the cities, and they have 5 times the economic growth we have and it has been consistent for 30 years!!

Ummm, and where do these figures come from? The same kind of source that has ahd revise our unemployment count for 42 weeks straight?

These socialist government use statistics to lie like a Persian rug.

The Chicom bastardization of capitalism and command economy is about to prove why that shit dont work.

"In many cases when you look at these buildings and say, that’s never going to be fully occupied, somehow 12 to 18 months later the building is full,” said Chris Brooke, CB Richard Ellis’s Beijing-based president and chief executive officer for Asia."

Go to google maps and you will see that almost all of them are still unoccupied.

I guy I know was in China recently and he drove by block after block of empty buildings every day in Shanghai. No one lived there because no one could afford the artifical prices that the Chicoms were demanding. The politburo is as heavily invested in this real estate bubble as anyone else and they are trying to artificially prop up those prices.

But it wont work in the long run.

There is a reason the market is the best determinant of prices, in general, and that is because the markets reflect genuine natural prices due to supply and demand.

To fudge the prices of the market is to flirt with disaster every time.
 
Well, at least Swallow had enough sense for once to realize she was wrong and crawl away quietly.
 
Beijing Alone Has 50% More Vacant Housing Than The US | ZeroHedge

From the (less than credible) NAR:

Total housing inventory at the end of April rose 9.5 percent to 2.54 million existing homes available for sale, a seasonal increase which represents a 6.6-month supply at the current sales pace, up from a 6.2-month supply in March. Listed inventory is 20.6 percent below a year ago when there was a 9.1-month supply; the record for unsold inventory was 4.04 million in July 2007.​

Meanwhile, half a world away, from a just released report in Beijing News (google translated):

The Beijing Public Security Bureau Population Administration Department said yesterday that have checked the information of the mobile population 725.5 million, mark the rental housing 1.39 million, checking vacant houses to 3.812 million.

So, broadly speaking: US: 2.5 million available homes; Beijing - one city in China - has 3.8 million??

Is it really that bad over there? Or is something lost in translation? If true, this is a huge bubble popping.

That's probably correct. I read a few years ago that total empty homes in China was something like 80 million. That number was calculated based on the estimated electricity used per household relative to those households with little electricity consumption, i.e. if a house is empty, it uses a fraction of energy an occupied house uses.

There is a pretty big housing bubble in China and it appears to be deflating. In secondary and tertiary cities, home prices are down by 25% to 30%, based on some reports. Whether or not it takes down the economy remains to be seen, but oil falling from $105 to $81 in less than a month is a pretty good indicator of problems.

However, the Chinese economy is different. Homes are used as a savings vehicle. Keeping money in the bank is essentially expropriation as inflation runs higher than deposit rates. Plus, since the banks are controlled by the Chinese government, people trust the banks less than they do here.

This is pretty true. I was talking to my girlfriend, who is Chinese, about this. She said that people would rather own real estate then have money in the bank. It's part of the explanation of why apartments are so expensive in Flushing, Queens..which is heavily Chinese.
 
Well, at least Swallow had enough sense for once to realize she was wrong and crawl away quietly.

Heh..not one thread you participate in and not go gay.

Dress up little girl. I am sure there are some construction workers interested in your services.

I don't need you to swallow my jiz..fag.
 
I hope your lesbian lover doesn't find out you are trolling for 'jobs' online like this, Swallow. She might knock you around as badly as everyone else does.
 
I hope your lesbian lover doesn't find out you are trolling for 'jobs' online like this, Swallow. She might knock you around as badly as everyone else does.

Are so horny now? Little china doll?

[ame=http://www.youtube.com/watch?v=t0oALRL7uyY]me so horny - YouTube[/ame]

Time to play dress up.
 

Forum List

Back
Top