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Reply #15: Why do they build so many luxury properites when nobody can afford them? [View All]

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Canuckistanian Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-12-11 04:11 PM
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15. Why do they build so many luxury properites when nobody can afford them?
At some point, don't business principles kick in?

Too much inventory is expensive to keep. Those malls still needed workers to clean and maintain them.

And speculators are buying SOME of the properties, helping to keep those prices too high for the average worker.

Like that analyst said, this is a bubble burst that will DWARF what happened in America.
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  -China's Ghost Cities and Malls DeSwiss  Apr-11-11 06:53 PM   #0 
  - DeSwiss- that may be the most amazingly weird thing I've seen all week. Just incredible!  Poll_Blind   Apr-11-11 07:15 PM   #1 
  - The Chinese housing bubble built their vacant houses upwards.....  DeSwiss   Apr-11-11 07:29 PM   #6 
  - Links to the bonus material mentioned at the end of the video HERE (link)  Poll_Blind   Apr-11-11 07:19 PM   #2 
  - Thanks nt  bananas   Apr-11-11 07:25 PM   #4 
  - Wow  MinneapolisMatt   Apr-11-11 07:22 PM   #3 
  - Honestly, I had no idea that any place on Earth was like that. That was surreal...  Poll_Blind   Apr-11-11 07:28 PM   #5 
  - What? Paying cheap labor wages DOESN'T create a "consumer economy"?  aquart   Apr-11-11 09:15 PM   #7 
  - So, China has jobs taken from other countries so many people can't afford their imports anymore.  texanwitch   Apr-11-11 10:47 PM   #8 
  - But only because.....  DeSwiss   Apr-11-11 11:35 PM   #9 
     - All those empty places and people living crowded in little tiny places.  texanwitch   Apr-12-11 01:54 AM   #10 
  - The Video: China's consumer culture has been grossly over-estimated  txlibdem   Apr-12-11 06:20 AM   #11 
  - Capitalism is social cancer.....  DeSwiss   Apr-12-11 11:39 AM   #12 
     - We need chemo --STAT  txlibdem   Apr-12-11 03:08 PM   #13 
  - Thank you for posting...Very Informative. EOM  physioex   Apr-12-11 03:25 PM   #14 
  - De nada n/t  DeSwiss   Apr-12-11 05:55 PM   #16 
  - Why do they build so many luxury properites when nobody can afford them?  Canuckistanian   Apr-12-11 04:11 PM   #15 
  - It would be my guess....  DeSwiss   Apr-12-11 06:10 PM   #17 
  - this section focuses on the overbuilding of apartments and malls  KurtNYC   Apr-12-11 09:38 PM   #18 
  - "They waste their GDP on empty buildings. We wage 3 wars at once."  DeSwiss   Apr-12-11 11:23 PM   #19 
     - One difference between the two  txlibdem   Apr-13-11 10:30 AM   #21 
        - A difference for the actors maybe.....  DeSwiss   Apr-13-11 01:57 PM   #22 
           - 100% agreed there  txlibdem   Apr-13-11 04:41 PM   #23 
  - Workers of the world!  watajob   Apr-13-11 03:17 AM   #20 

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