China’s Growing Housing Bubble: More Ghost Cities or Bad Loans?

The last time there was a rapid rise in speculation on Chinese housing, it resulted in “ghost cities” of unsold housing across many cities in China. Now another round of speculation is gearing up. The Chinese state must do all it can to contain the possibility of bad loans, especially given that the Chinese economy is not growing at 10% anymore. If the Chinese economy gets in trouble, the whole world is in trouble.

Read in the Wall Street Journal

Residential buildings in Shenzhen, Guangdong province, China. Housing prices in China’s larger cities are again rising quickly. PHOTO:BLOOMBERG NEWS

About Barbara MacLean

Barbara MacLean has worked as an academic and career counselor at California State University, East Bay (CSUEB), Merritt and West Valley Colleges and as a career counselor and manager of the Oakland One Stop Career Center, a public career and jobs center in partnership with EDD. She is a co-founder and editor of Planning Beyond Capitalism.

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