Understanding China, One Blog at a Time

An American in China

China Fact- China’s Housing Bubble, the Coming Collapse

Posted by w_thames_the_d on August 26, 2010

In China there is speculation that there is a housing bubble. The speculaiton is that when it bursts, the Chinese economy will suffer like that of Japan in the 80’s. The chicoms like to say it doesnt exist, and international companies either, they just want to make money and hail the coming of China. This guy named Minxin Pei is a monster on China. He is Chinese but works for the Carnegie foundation and tells the shocking truth about many of the things that are happening here.
here is an excerpt of one of his blog posts:
“. Chinese authorities recently disclosed that, based on monthly readings of electric meters, 65 million housing units in Chinese cities register zero power usage, indicating that they are unoccupied. “

6 Responses to “China Fact- China’s Housing Bubble, the Coming Collapse”

  1. is electricity free in china?

    • wtdevflnt said

      Hey thanks for reading the blog. Re electricity, hell no its not free, but the price is much lower than in the States. For instance you can run the AC like a bastard and pay the equivalent of 60U$ per month for a 2 bedroom apt. In the winter, they have this crazy heating scheme whereby the chicoms pump heat into your apartment whether you want them to or not, you have no choice. And then they take it out of the water bill or something.

      • ok – was just wondering what the situation was these days as stuff i had been reading (from the past admittedly) hinted at it being free. how about rural areas? subsidised further? stealing electricity would probably be fairly rampant too i can imagine?

      • wtdevflnt said

        I just asked some folks, and they verified what I said. I am unsure about the little villages and farm towns, when I go to work I can ask (I asked people from Chongqing). Another thing is that in the cities, the actual charge is based on square meters. Remember I said there is a flat rate? Well, the chicoms charge you based on the size of your place and you cant tell them to turn on and off the heat, they just pump it in when they decide. For instance, maybe the middle of November, we have no choice, they will start pumping heat into our places and stop in April. Last year even after they cut it off it was cold, so it sucked.
        So, in the cities, no not free but greatly subsidized.
        Re stealing, yeah, my first gig here and first place, some pricks stole my electricity, I had a bill ten times larger than what it should have been. The cops are lax and no one really checks for that sort of thing. My current place is better though.
        Also, the electricity is subsidized, I believe, as my electricity bill is nothing compared to the west.

      • wtdevflnt said

        Hey, I’ve been to your site a few times, http://www.tenzenmen.com, and do you do music or whats the deal with it? Do you just promo the gigs or is that music your own? Is it punk, thrash metal or what? Thanks

      • i run a record label and distribution – specialising in alternative music from all over AustralAsia. i also license Chinese releases here in Australia and currently working on a Sino-Aussie Music Exchange program.

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