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06-26-2023 , 08:51 AM
Quote:
Originally Posted by Bluegrassplayer
I don't know enough to attempt to guess.
Well Soros #1 ldo
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01-19-2024 , 08:49 PM
Sup w them ghost cities? Is this a thing or not?
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01-19-2024 , 09:11 PM
Quote:
Originally Posted by TeflonDawg
Sup w them ghost cities? Is this a thing or not?
Short answer is yes. Even in prosperous first tier cities we are looking at home/office vacancy rates in the 10-30% range.

As you go inland and north east, the vacancy rates are higher and often are concentrated in failed new development projects. Add projects that have halted construction and you get a lot of places that could be fairly called ghost cities.

Some ghost cities of the past filled out over time but China has reached a point of population decline. They still have room to urbanize more but there is already enough housing stock for all the urban population growth for the forseeable future. The problem is most of that growth will be in economically prosperous areas and the inland ghost towns today won’t really get a lot of that growth.

Last edited by grizy; 01-19-2024 at 09:17 PM.
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01-19-2024 , 09:23 PM
name a ghost city then grizy
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01-19-2024 , 09:39 PM
kangbashi is still at >85% housing vacancy. A few years ago they enticed people to live there by forcing prestigious high schools to move to the district so that might start going down.

After 15 years though, I think that type of vacancy should qualify it as a ghost town
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01-19-2024 , 09:58 PM
kangbashi is not a city, it's a district of ordos, cherry picking upon cherry picking



https://en.wikipedia.org/wiki/Kangbashi_District

Quote:
Apartment and office capacity
Characterized as a ghost town, Kangbashi was made world-famous by a news report in November 2009 from Al Jazeera,[12] later picked up and expanded through an April 2010 article in Time magazine,[13] for having few residents but massive amounts of empty residential housing and high-tech public works projects. Subsequent reports have supported the claims that Kangbashi housed around 20,000 to 30,000 people as of 2010.[14] In 2014, the vacancy rate of new homes was 70%.[15][16]

Writing in Forbes in 2017, Wade Shepard had questioned the justification for the label of "ghost city" and argued that it was being judged too quickly, as it was too soon to be speculating whether a new city will end up being largely uninhabited in the long run. Shepard noted that when Al Jazeera had visited Kangbashi, the city back then was only five years old, and had around 30,000 people, and that it really should had "impressed the world" for having an entirely new city and partially populating it in just five years' time. Shepard also pointed out that by the end of 2015, housing prices have risen by approximately 50% on average and that in 2017, the population has grown to 153,000 people, and there were around 4,750 businesses in operation in the city, as well as having just 500 apartments still left on the market, out of the 40,000 apartments that had been built since 2004.[6]
only 500 units left on the market out of 40,000 newly constructed apartments in 2017

as you can see from satellite images, most of it are still empty lots, the idea they just went nuts is not supported by facts
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01-19-2024 , 10:07 PM
Did a lot of them end up getting a massive amount of people moving to them? I haven't followed this in years but it was a major problem then.
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01-19-2024 , 10:25 PM
Some did. Most are still trying to fill with some that are still mostly empty.
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01-19-2024 , 10:53 PM
Quote:
Originally Posted by grizy
Some did. Most are still trying to fill with some that are still mostly empty.
which ones grizy? which ones?
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01-19-2024 , 10:57 PM
Quote:
Originally Posted by Bluegrassplayer
Did a lot of them end up getting a massive amount of people moving to them? I haven't followed this in years but it was a major problem then.
i covered this when mindflayer mentioned the "china ghost city problem" in the tsla showing cracks thread

Quote:
Originally Posted by rickroll
i am trying to be polite here

but you absolutely do not know what you're talking about and are repeating a bunch of nonsense

the "ghost cities" are lies

china plans 10-20-30 years in advance

it builts things in anticipation of usage and not for immediate needs

in the late 90s you saw them build out a modern highway system that was empty and there were tons of articles of "ghost highways"

at the time they began to build those massive national highway systems, the city traffic was literally like this


they saw the trends, understood the need and went for it, knowing full well that they would be run at under capacity for a few years as automobile ownership caught up


china is also leading the self driving car push, mostly behind heavy investment towards robo trucking


so when china builds a highspeed rail network, they aren't building it for right now, they are building it for the next 50 years. There are spots where they understand "hey there's nobody here now and not many jobs, but it makes logistical sense to run a bunch of new rail lines through here so if we put in a station here then it's be cheaper to ship supplies for businesses who would open up there, which is turn will bring in people to work there, etc etc

the end result is for a few years you have this absurd gargantuan station which doesn't really serve too many people

all those articles about "ghost cities" etc are written by idiots who didn't understand the long term planning behind it and every single one of those wound up as vibrant populated centers

it's the field of dreams, if you build it, people will come - americans don't understand this so you get a young journalist sent abroad and he's like "wow i can win a pullitzer pointing to this new urban development that is only 10% occupied because it is brand new"
Quote:
Originally Posted by rickroll
fair enough, i just want to say that most coverage on china is written by an idiot who can't even speak the language and is looking to make a name with a big story

and the key to getting good coverage is to play into tropes

freedom loving people who are oppressed, terrible pollution, ghost cities, etc

it's even been absolutely proven that a lot of media puts grey filters on their photos and videos of china

here are is the same video from the bbc side by side, one for a Chinese audience and one where they added the grey filter for coverage abroad - it's stranger than fiction


most media coverage of china makes me spit up my milk with how incredibly wrong they are in their interpretation and coverage

mindflayer, i actually like and respect you and follow your thread - but you've been sold a bunch of bs - when dealing with china it's best to cut out generalities and try to deal with specifics - that helps underline whether or not it's actually happening, for example, try to find an actual ghost city, a specific one rather than discuss the vague idea of it happening

like all that covid coverage of people being welded into buildings was all nonsense, what they were doing was trying to get people to do contact tracing which meant scanning a qr code whenever the entered a building - to make this easier to manage, they would close the many entrances and exits to each building so there was only one - since many of those doors were never intended to be locked, they didn't have any locks on them and since people are all selfish they would continue using those doors - i personally ignored those and always used the closest and most convenient entrance until my building management also found a way to install some locks - in some case they decided it was just easier to weld it shut and replace it with a new door later

absolutely nobody was being welded into a building, that made zero sense - yet that's the narrative media ran with

same thing with instead of calling them markets they used the term "wet market" because it sounds less sanitary - wet market is not a chinese thing, it's an english word not found in chinese, an industry term meant to distinguish between something like a whole foods which sold perishable goods and something more like a grain elevator which was used to store corn for over a decade

a whole foods is a wet market - but it sounds ickier and gross so that's what they went with
Quote:
Originally Posted by rickroll
there are zero "ghost cities" even ten years old

what happens is for whatever reason, a region will be targeted for development - 100% of units are sold right away because everyone believes it'll be a good investment and can sell later even if they have no intention of relocating

it could take 5-6 years just to finish the construction of all the residential and commercial sections and schools and police stations - it'll then take another 2-3 years before parents want to send their kids to the schools there because they want the schools to hit their stride and have qualified teachers, not be living there in the first year where they may have had to cut some corners to ensure they had enough staff

likewise, people are slow to move in when it's new and there's not much going on yet, why move to your new home when there's not many dining options in walking distance yet, why not just wait another year before you make the official move and be more comfortable in the meantime

in the west we don't do this kind of holistic planning - it's unheard of, so some journalists see something in year 4 of an 8 year construction plan and have no fundamental understanding of what is really happening but see block after block of mostly empty buildings and then believe it's all fake and society is on collapse

i know a bunch of chinese people who owned dozens of homes and would just let them sit empty because if they were previously lived in by renters the value drops dramatically - nobody wants to buy a home someone else outside their family lived in, it's a cultural thing

they will sit on those homes knowing that a new school has already been approved to be built in 6 years or that a new subway line will be built with a nearby station in 4 years etc and then sell

chinese have incredibly patience

but.. the idea of long standing "ghost cities" is just a lie

hence why he won't be able to name any specific ones, only talk about it in the abstract

the population itself may not be growing recently, but they just eliminated the one child policy and a lot of pent up baby desire is happening with tons of kids, even old couples who's first child is now in their 20s are going to fertility clinics

also a massive amount of the population lives among many others in cramped/dorm style housing

the vast majority of the country is still living subsistence farming lifestyles working plots of land so small it can barely provide enough to subside and live in wretched conditions - that's why they'll happily go to the city, live in a factory dorm and work 14 hour shifts every single day because it's better than staying in their hometown

millions of chinese literally live in caves - the demand for these developments is real and only someone who leaned too heavily on some dumbass journalists would believe otherwise


why i first returned to Beijing from North Africa, I was living in a brand new development about 2 hours northeast of Beijing

i was living there because it was incredibly cheap to live there at that time, the roads were empty, most store fronts were empty - it was a literal ghost town - within a year all those had filled up and it was a vibrant place and you'd never know that just a year prior it looked post apocalyptic
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01-19-2024 , 11:01 PM
Quote:
Originally Posted by rickroll
kangbashi is not a city, it's a district of ordos, cherry picking upon cherry picking



https://en.wikipedia.org/wiki/Kangbashi_District



only 500 units left on the market out of 40,000 newly constructed apartments in 2017

as you can see from satellite images, most of it are still empty lots, the idea they just went nuts is not supported by facts
It’s an urban sprawl bigger than Philadelphia and you think I’m being pedantic?
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01-19-2024 , 11:17 PM
Interesting, thanks for the posts.
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01-19-2024 , 11:53 PM
Quote:
Originally Posted by coordi
It’s an urban sprawl bigger than Philadelphia and you think I’m being pedantic?
a - if we start isolating the districts then there are thousands of "ghost cities" throughout the world, including the USA - which is why it's absurd

this means I technically grew up next to a ghost city in massachusetts

pittsfield mass has tons and tons of empty buildings and there's entire districts which are just rundown and decrepit - it's such an issue that each year the town puts money together to demolish abandoned storefronts and homes

there's entire streets there that are empty, most of the downtown businesses collapsed, an entire strip mall is abandoned

that's my point, that once you start ntipicking to "well this district of that city has high vacancy so it's a ghost city" then the word lacks all meaning entirely and everything everywhere becomes a ghost city

there are areas of manhattan where there's more unoccupied commercial real estate than occupied, but would it would be insane to call that a ghost city

look at kangbashi on the map, it's just a handful of city blocks, that "urban sprawl" you're referencing is just empty steppe

you can also clearly see how the majority of it is still undeveloped, they built the roads already but haven't yet begun construction - it wasn't a "build everything all at once"

while still going at lightspeed, everything is still clearly being done in stages and we're still at the very beginning
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01-20-2024 , 12:09 AM
There are definitely lots of empty districts in China. The city I lived in had a massive one. I had a friend who lived in one in Shanghai, the entire had maybe 10% occupancy and 1 restaurant serving several blocks. Oddly enough there was one cafe there too which was a cat cafe. It sounds like there's a good chance the area might have filled up though.
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01-20-2024 , 12:15 AM
also, lol at the "urban sprawl size of philadelphia" comparison

you're confusing arbitary sizes of land, the thought of comparing one of the highest denisity population areas in the western world to a desert steppe in mongolia is lol, especially with the "urban sprawl" addition

the government of ordos saw a long term influx of people from the countryside to ordos, this was causing housing shortages, they saw that kangbashi was a districut of land that was largely empty & under their jurisdiction so they steered development there

the "infamous ghost city" is just a few city blocks




meanwhile, this is how your typical ordos migrant worker from the countryside is living, there is a demand for these homes, the issue is an "over supply of homes" but rather that "wealthy speculators buy up the new properties and sit on them as investments so adding new units doesn't have the 1:1 housing alleviation they desire"

you see these temporary dorms all over the country because there's no place for people to live


inside those they are packed like sardines



places like ordos which have a lot of empty land around them have tent settlements surrounding them where the migrant workers live and they can easily commute in to their jobs in the city


making temporary shelters out of shipping containers is a real thing




when i lived in Beijing, every apartment complex I lived in had underground attachments which when built were intended to double as parking garages and storage units or even atomic shelters if they were built in the cold war (marshall publicly stating we should nuke china will have that effect)

none of those are used that way, they have all been converted into migrant housing, if you walk down the ramp that was designed to have cars drive down but nobody drives in anymore then you'll see the bunks and see how open and exposed these people are because they have no privacy nor walls, you turn the corner and then boom, you see this


this is what they look like from the outside, this one here was converted into a shop
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01-20-2024 , 12:17 AM
Quote:
Originally Posted by Bluegrassplayer
There are definitely lots of empty districts in China. The city I lived in had a massive one. I had a friend who lived in one in Shanghai, the entire had maybe 10% occupancy and 1 restaurant serving several blocks. Oddly enough there was one cafe there too which was a cat cafe. It sounds like there's a good chance the area might have filled up though.
you realize people are now going to be posting about shanghai being a ghost city now
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01-20-2024 , 12:19 AM
I agree, Pittsfield mass is a ghost town. But the opposite kind. It boomed then bust. Kangashi has only bust so far. And yeah the units sell, but stay empty. You already explained the reason.

Best numbers I could find were 67% unoccupied, which is way better than 90% but still empty af.

If you want to say, see me in 5-10 years bro, I’m down with that but hand waving the scale because it’s a “district” in Chinese nomenclature is being nit picky, in my opinion. Even if the intended population is 500,000 that’s still a top 40 city in the US.
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01-20-2024 , 12:52 AM
i think those are fair points
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01-20-2024 , 12:23 PM
I don’t even know what rickroll is posting but I have no doubt he is defending the CCP’s choices and possibly denying a problem that even the CCP doesn’t deny.
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01-20-2024 , 01:31 PM
grizy, your "he's a ccp plant" whenever you get called out for posting nonsense schtick is growing tired

i know it must be tough for you because you previously considered yourself a china expert around these parts and got away with it and no longer can't because there's enough us now who actually do understand the coutnry and you've lost that special status you held so dearly

just admit you don't actually know anything or at least stop with the personal attacks - you look really stupid every time you do this
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01-20-2024 , 07:07 PM
I am looking for the truth about ghost cities in China.
For background, I consider myself knowledgeable in Real Estate. I have a Civil Engineering Degree but have not practiced for +30 years. Way back when, I did take a course in City Planning.
I have three licenses Rental, HOA/Strata, and Trading in Real Estate. I am a long time Real Estate Investor. I have Real Estate investments in 3 States and 3 Provinces.

I especially follow the ongoing Economic situation in China, of which the term Ghost City is just one symptom.
The reason I follow the goings on in China is to find out where the money is going and get there before the big push happens. When I am convinced of a situation, I usually make big "bets." (large investments with some conviction) Like Warren Buffet says, you do not have to take a swing at every pitch, but when one is right in the zone, you take your swing.

One of the key concepts that I have used in my North American real estate portfolio is to know where planned infrastructure is going in and to invest there before it gets built. One of the situations got all messed up but ended up ok. Ie. A large civil infrastructure was being built in an area, and I bought a warehouse in the area that would be serviced by it and was expecting a large boost in RE prices in that area. Large areas of trees were cut down, a few million m^3 of soil was placed for soil compaction etc. Construction was just starting.... then a year later the pro development government got voted out and the project was cancelled! I still ended up making 7 figures on that investment as when covid hit, retailers were shutting down and warehouse prices shot way up. .. The retailers went online and stopped paying for retail space and just need a warehouse at a quarter of the rent/sqf; and a shipping area to package/ship goods.

For this discussion, I think we have to define ghost city first.

In North America, ghost "city." is not really a thing. Ghost towns however are common and are/were towns formed for the exploitation of a certain natural resource such as gold or some other mineral. When the gold dried up or other mineral fell out of favor such as coal, the main employer of the town closed and everyone move(s) away; leaving a ghost town. These towns usually never get past 20,000 people.
By this definition, China does not have any.

According to Google "A ghost town, deserted city, extinct town or abandoned city" is an abandoned settlement, usually one that contains substantial visible remaining buildings.
By this definition, China does not have any.

What is common is for disgruntled Chinese residents to use the term, as in the following video to describe, one of two situations.
1) Where a city is planned and completely built out but has an occupation rate of under 25%.
2) Were a city is planned and 10's or even 100's of the skeletons of buildings are built, but not completed, due to the financial failure of the Developer, such as Evergrand, Country Garden, or Sunac.

I believe the following video names 6 or 7 of these types of "Ghost Cities" please note, often it is the owner or worker doing a video of their property calling the area a "Ghost City" not me.
https://www.youtube.com/watch?v=oMaVyMxMFl0&t=156s

Important time stamps at 4:00 min 7:00 min and 9:00 min.
Also note that I consider The poster China Observer fairly anti China.
4:00 identifies one of China's Structural Problems... Their Tax System.
7:00 identifies a Ghost City that is now over 19 years old. I watched a separate video of this posted two years ago by an owner who said it is still empty after 17 years.
9:00 identifies MY common strategy of investing in an area Before the money flows into that area. BUT in China, it was used in response to a GDP goal set (Previously 10%, now reduced to 5% GDP Growth) by the party and not as a natural development due to demand already in THAT AREA.

If I was told by a high level government official in China that they were going to build a High Speed rail station and a city between two major cities in China and I had the option of making a 500k bet for bare land in that area, I would pass. I might be wrong and miss out, but I would still pass.

This post is long enough already but I can speak to any or all of these topics in detail.
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04-12-2024 , 08:42 PM
A budding Axis of Fascism

“US says China is supplying missile and drone engines to Russia”

https://on.ft.com/3xHi8bm
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04-12-2024 , 08:47 PM
Quote:
Originally Posted by grizy
A budding Axis of Fascism

“US says China is supplying missile and drone engines to Russia”

https://on.ft.com/3xHi8bm
I'm not sure the Chinese, Russians, North Koreans, and Iranians are the axis of anything. More just like the Really Rottens.
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04-13-2024 , 07:58 AM
Quote:
Originally Posted by grizy
A budding Axis of Fascism

“US says China is supplying missile and drone engines to Russia”

https://on.ft.com/3xHi8bm
My understanding is China needs Russian and Iranian natural resources to function, and it needs markets to buy all the **** it produces. We should probably view China's complicated relationship with Russia and Iran similarly to our own relationship with the Gulf States when they were actively spreading Wahhabism to the world.
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04-13-2024 , 09:04 AM
Quote:
Originally Posted by Dunyain
My understanding is China needs Russian and Iranian natural resources to function, and it needs markets to buy all the **** it produces. We should probably view China's complicated relationship with Russia and Iran similarly to our own relationship with the Gulf States when they were actively spreading Wahhabism to the world.
Do you think they spread Wahhabism without the support of the US? How are you supposed to have a global war on terror without terrorists?
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