Zhuhai Ruins

If you listen carefully to this picture, you can hear China’s real estate bubble burst. The area around 珠海 Zhuhai is scattered with failed infrastructure and real estate projects. In many cases the projects had to be halted because they were illegal or one of the involved contractors or loan sharks filed bankruptcy or fled the country. But there is increasing concern over a bursting real estate bubble, with signs like those in the picture here, where a gigantic housing park lies uninhabited, but without workers, machines or any signs of construction apart from rusting cranes.

If you listen carefully to this picture, you can hear China’s real estate bubble burst.
The area around 珠海 Zhuhai is scattered with failed infrastructure and real estate projects. In many cases the projects had to be halted because they were illegal or one of the involved contractors or loan sharks filed bankruptcy or fled the country.
But there is increasing concern over a bursting real estate bubble, with signs like those in the picture here, where a gigantic housing park lies uninhabited, but without workers, machines or any signs of construction apart from rusting cranes.

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