China Property Video

I came across this very interesting video today about China's ghost towns:   http://www.sbs.com.au/dateline/story/watch/id/601007/n/China-s-Ghost-Cities   The China real estate market is one big bubble.  All bubble's end bad and this will be no exception.  In order to achieve their high growth rates, the Chinese continue to build housing everywhere and anywhere.  The huge cities they are building are nearly empty (which is very eerie) and the housing is priced out of reach of the majority of the population.  Per the video, it is common for many working people to share very small spaces together, while there are 64 million empty apartments in China!  The social aspects are tragic, in my opinion, and they are going to get much worse.  The owners of these speculative properties are going to be left holding the bag when the pyramid collapses.  This will create massive social unrest and possibly revolution.  This property bubble can not go on forever.   Contrarian investors will see the potential for negative Chinese GDP growth in the not too distant future.  The implications of this will be severly negative for the world of risk assets including stocks, corporate bonds, commodities and even race horses and artwork.