Nobody's home: The ghost cities of China
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Nobody's home: The ghost cities of China
Tour China's ghost cities, as we did with financial analyst Gillem Tulloch, and you'll see the spooky signs of a real estate bubble. Watch Lesley Stahl's full report on "China's Real Estate Bubble."
Aug 3, 2014
Shorts
Over the years, China built faster than real demand grew. The result? Tens of millions of empty apartments, ghost cities, and a real estate sector that weighs down the entire economy. Prices are falling, developers are going bankrupt, and China’s population is starting to shrink. This is not an isolated incident — it’s one of the biggest structural problems facing modern China. #China #RealEstate #Economy
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