Think of an urban landscape of large compounds of hulking, empty high-rise buildings. “Ghost cities,” as they’re often called, have no lights and a see-through quality due to their unfinished, open windows.
Welcome to China's three-year old housing market collapse.
Our Beijing-based Ann Scott Tyson has seen the glut of tens of millions of unoccupied housing units in Chinese cities, many unfinished and unsold.
Tyson reports that the collapse has dealt a devastating blow to the wealth and confidence of Chinese households, and continues to be a huge damper on growth in the world’s second-largest economy.
Can Beijing restore the confidence of would-be homebuyers in China?
Find out more in her report from Beijing. https://lnkd.in/eWJy6T3x
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