Inside a GHOST TOWN of 700 abandoned Disney Castles

[affeman]

That's insane

&t=2s

[LurkerNoMore]

China has some immense ghost cities.  Many high rises.   There is one (the name escapes me right now) that is completely finished.  Streets are like new, buildings immaculate and clean.  It was estimated that 1 million people would live here.  And it is now only about 10% occupied.  There was an interview with residents on tv and some were saying that in a huge high rise, there was only 4-5 people.  You would have your place on an entire unoccupied floor. 

EDIT - found this youtube video on it

[Brenda Steunbeer]

Chinese are not allowed to buy stocks etc, so real estate is the only alternative for them. Hence the massive overbuilding. All for speculation, people did not intend to actually live there. Just hoped to sell it on with a profit

Chinese real estate developers have built enough surplus appartments to accomodate the entire population of France and Germany combined.

[affeman]

Chinese are not allowed to buy stocks etc, so real estate is the only alternative for them. Hence the massive overbuilding. All for speculation, people did not intend to actually live there. Just hoped to sell it on with a profit

Chinese real estate developers have built enough surplus appartments to accomodate the entire population of France and Germany combined.

How is it possible that real estate prices are still going up with a massive oversupply like that?

[funk51]

   

   

   

   we got em in the old west.

[Griffith]

Chinese are not allowed to buy stocks etc, so real estate is the only alternative for them. Hence the massive overbuilding. All for speculation, people did not intend to actually live there. Just hoped to sell it on with a profit

Chinese real estate developers have built enough surplus appartments to accomodate the entire population of France and Germany combined.

Cannot own property either, only long-term lease, either 40 or 70 years.

Communist country 

[LurkerNoMore]

Chinese are not allowed to buy stocks etc, so real estate is the only alternative for them. Hence the massive overbuilding. All for speculation, people did not intend to actually live there. Just hoped to sell it on with a profit

Chinese real estate developers have built enough surplus appartments to accomodate the entire population of France and Germany combined.

Most are not even sold.  A big percentage of these ghost cities were targeted for expats.  Which never materialized.

[Royalty]

Any ghost cities in Korea?

[karasan]

A dream project of an autistic architect with a big hard-on for Disney castles? I can sympathize with that, but wasn’t there anyone sane enough to call that mess off?
It is no wonder we have a saying "dick headed japanese/Chinese soldier"
Not an ounce of soul or common sense on those fckers.

[LurkerNoMore]

Any ghost cities in Korea?

Only occupied by your gimmick obsessions and a 5th place soon to be broke and homeless meth addict.

[Dave D]

China has some immense ghost cities.  Many high rises.   There is one (the name escapes me right now) that is completely finished.  Streets are like new, buildings immaculate and clean.  It was estimated that 1 million people would live here.  And it is now only about 10% occupied.  There was an interview with residents on tv and some were saying that in a huge high rise, there was only 4-5 people.  You would have your place on an entire unoccupied floor. 

EDIT - found this youtube video on it

Have you ever spent time in China lurk? I had a coworker who taught English there, when he was in his 60’s, and loved it so much he ended up married to a woman from China, and is now a resident there, or however it’s classified.

[LurkerNoMore]

Have you ever spent time in China lurk? I had a coworker who taught English there, when he was in his 60’s, and loved it so much he ended up married to a woman from China, and is now a resident there, or however it’s classified.

I have been 11 times for trips combined of the following places (not every place on every trip though) :

Beijing
Shanghai
Hunan Province
Xi'an
other smaller places that was along the route of two river boat cruises on the Yangtze River that started in Beijing and ended in Shanghai

I have never actually been to any of the ghost cities there as they are often a long way and many hours of travel from the major cities.  I think the largest most famous one listed in the video I posted above is about 8-9 hours from Beijing if I remember correctly.

[Royalty]

Korean music is excellent

[wes]

I have been 11 times for trips combined of the following places (not every place on every trip though) :

Beijing
Shanghai
Hunan Province
Xi'an
other smaller places that was along the route of two river boat cruises on the Yangtze River that started in Beijing and ended in Shanghai

I have never actually been to any of the ghost cities there as they are often a long way and many hours of travel from the major cities.  I think the largest most famous one listed in the video I posted above is about 8-9 hours from Beijing if I remember correctly.

Damn brother,I envy you...........you`ve been all over the world.

[LurkerNoMore]

Damn brother,I envy you...........you`ve been all over the world.

It might be hard to believe, but I have been to more international places than to domestic ones.

[wes]

It might be hard to believe, but I have been to more international places than to domestic ones.

I believe you......I`ve been to Florida!!!   

[LurkerNoMore]

I believe you......I`ve been to Florida!!!   

As many places I have been, there is still no other place I would rather live than Ft Lauderdale.  When I retire, I would probably summer in other places, but FL will always be my home.

[GymnJuice]

I have been 11 times for trips combined of the following places (not every place on every trip though) :

Beijing
Shanghai
Hunan Province
Xi'an
other smaller places that was along the route of two river boat cruises on the Yangtze River that started in Beijing and ended in Shanghai

I have never actually been to any of the ghost cities there as they are often a long way and many hours of travel from the major cities.  I think the largest most famous one listed in the video I posted above is about 8-9 hours from Beijing if I remember correctly.

How did you like it? I've been once. They took pictures as if we were celebrities. The trains are top notch, there were no hustlers bothering you like other destinations, and I never felt unsafe. There were security cameras all over the place and I thought their security is better than ours.

[LurkerNoMore]

How did you like it? I've been once. They took pictures as if we were celebrities. The trains are top notch, there were no hustlers bothering you like other destinations, and I never felt unsafe. There were security cameras all over the place and I thought their security is better than ours.

I like it.  I haven't been since 2019 but would definitely go back.  The last gig with my company was in 2022, but another photographer went instead.  First time visitors are in a cultural shock with things.  Seeing the weird food like live insects or live scorpions on a stick is surprising but really, they had heard about it.  What they haven't heard about was the whole pigeons on a stick, true duck blood soup, or century eggs (which if you eat the "seasoned" one, you will be tasting it for 1,000 years and not in a good way)

It's very safe. The only real hustle or scams are the citizen taxis or the sanlunche (but really, every country has pretty much the same scams.  Just go to Madison Square Garden here in NY and you will run into the "no meter - flat rate only" scam.)

Shanghai still has one of the best skyline views around IMO

[gib]

Chinese are not allowed to buy stocks etc, so real estate is the only alternative for them. Hence the massive overbuilding. All for speculation, people did not intend to actually live there. Just hoped to sell it on with a profit

This is a totally misinformed, idiotic, and obviously incorrect statement.

Have you not heard of:

The Beijing Stock Exchange.

The Shanghai Stock Exchange.

The Shenzhen Stock Exchange.

The Hong Kong Stock Exchange.

All of which are open to, and actively traded by, Chinese investors. Not to mention the many insurance products sold in China, backed by Chinese listed stocks, available to 1 Billion+ Chinese who live in China?

What you may be confusing yourself with though, is the restriction on capital outflows from China, which makes it harder for some Chinese to buy assets overseas. Obviously though, there are many ways around this, as evidenced by the many Chinese owners of foreign real estate. (That money flow from China will increasingly move into Bitcoin, over time, for obvious reasons).

Where you are partially correct though, is that if locally listed companies are not seen as viable investments by Chinese (ie distrust of Government influence in the economy, poor corporate governance, and unethical or fraudulent conduct by directors, then yes, real estate becomes a popular alternative (especially in a market perceived to be rising fast when combined with Chinese values associated with owning a home).