The Australian has a user only pay for it article by Alan Dupont, “China on Road to a big Crash.” I would have loved to have reported on this, and at one time I could afford to buy The Australian each day, but those days are gone. It is hard enough making it to the end of each week, without doing the super-high quality research I used to do. When the big crash comes, I am preparing to eat grass. So, using only the free resources of the community centre, let’s see what I can produce on the same theme, on the cheap; collapse journalism.
https://www.zerohedge.com/news/2018-11-10/nightmare-scenario-beijing-50-million-chinese-apartments-are-empty
https://www.zerohedge.com/news/2018-11-10/why-chinese-authorities-are-freaking-out
“Back in 2017, we explained why the "fate of the world economy is in the hands of China's housing bubble." The answer was simple: for the Chinese population, and growing middle class, to keep spending vibrant and borrowing elevated, it had to feel comfortable and confident that its wealth would keep rising. However, unlike the US where the stock market is the ultimate barometer of the confidence boosting "wealth effect", in China it has always been about housing as three quarters of Chinese household assets are parked in real estate, compared to only 28% in the US, with the remainder invested financial assets. … Meanwhile, in the process of reflating the latest housing bubble, another dire byproduct of this artificial housing "market" has emerged: tens of millions of apartments and houses standing empty across the country. According to Bloomberg, soon-to-be-published research will show that roughly 22% of China’s urban housing stock is unoccupied, according to Professor Gan Li, who runs the main nationwide study. That amounts to more than 50 million empty homes.