2011-11-27

111 months of housing inventory in Ordos

鄂尔多斯鬼城楼市崩盘 万元房价跌去7成

The article gives some background on the area. before 2004, there were two villages with 1400 people. After major coal, rare earth and natural gas development, the GDP per capita exceeded that of Beijing and Shanghai in 2007.

All bubbles accelerate at the peak and the Kangbashi (康巴什) area, where the previous story of the 70% price drop took place, is no different. The above linked article states that as of June 18, the government reported Kangbashi had 3.22 million square meters of property, but by the end of 2011, an addition 3.5 million square meters will be completed!

One positive: filmmakers may find the area perfect for shooting zombie apocalypse and other dystopian films.

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