Home-buying speculation is rampant in China. Over a fifth of China’s homes are empty. That’s 50 Million Empty Apartments.

Soon-to-be-published research will show roughly 22 percent of China’s urban housing stock is unoccupied, according to Professor Gan Li, who runs the main nationwide study. That adds up to more than 50 million empty homes, he said.

The nightmare scenario for policy makers is that owners of unoccupied dwellings rush to sell if cracks start appearing in the property market, causing prices to spiral. The latest data, from a survey in 2017, also suggests Beijing’s efforts to curb property speculation -- considered by leaders a key threat to financial and social stability -- are coming up short.

Shop Till You Drop

Image placeholder title

Pure Speculation

An amazing 69% of recent home purchases have been second or third homes.

A housing bust is coming and it will hit China hard.

Mike "Mish" Shedlock

Mr. 50-Cent VIX Nets $200 Million

Mr. 50-Cent Vix made $400 million on his recent bet, but he was down $200 million for 2017.

Existing Home Sales Decline Third Month Despite Rising Inventory

Existing home sales declined for the third month, fourth year-over-year. May sales were revised lower.

Luxury Homes Sales Decline Most Since 2010 As Supply Soars

Supply of luxury $2.0 million homes is up four consecutive quarters but sales are down 16%, the most since 2010.

$500 Million LA Home – Built on Spec

To highlight the enormous and growing income inequality issue, please consider California Dreaming: Record $500 Million Tag on L.A. Home.

46 Million People in 16 Chinese Cities Now Locked In

46 million people in 16 Chinese cities are locked in with travel bans due to the deadly coronavirus.

Existing Home Sales in June Dive 1.8 Percent: Same Old Problem? Second and Third Quarter Impact?

The wind down to the end of the second quarter is not going very well. Existing home sales in June fell 1.8% to a seasonally adjusted annualized rate of 5.52 million. The Econoday consensus estimate was 5.58 million.

Supply of Homes on Australia Market Soars Rapidly, Major Crash Coming

Australia's biggest housing markets are in trouble. Supply overwhelms buyers in most major markets. Price will follow.

Home Affordability: Canada vs. US

Homes are unaffordable in the US, but the situation is far worse in Canada.

“Bargain” $2 Million Homes in Australia: “Super Saturday” Auction Results Posted

Home supply in Australia is up with the number of bidders down. Supposedly this puts prices in the bargain range.